§ 1171 Grant And Mortgage Records
This law says that gifts (grants) must be entered in one official record book, while mortgages must be entered in a separate book.
When you give your friend a house as a gift, you write it down in the 'gift' ledger; if you use the same house as collateral for a loan, you write that agreement in the 'mortgage' ledger.
The law requires you to keep the paperwork for a plain gift separate from the paperwork for a loan secured by property, so each type of transaction is tracked in its own set of books.
AI-generated — May contain errors. Not legal advice. Always verify source.
§ 1171 Grant And Mortgage Records
Last verified: January 9, 2026