What is required for a mortgage instrument to be enforceable?

For a mortgage instrument to be enforceable, it is essential that it be in writing. This requirement is rooted in the Statute of Frauds, which mandates that certain types of agreements, including those concerning real property, must be documented in writing to be legally binding. A written mortgage clearly outlines the terms and conditions agreed upon by both parties, which helps prevent disputes and provides a solid reference for enforcement.

While recording a mortgage with the county can provide notice to the public and establish priority over other claims, it is not a requirement for enforceability. Similarly, a mortgage does not necessarily need to be signed solely by the lender; both parties (borrower and lender) typically need to sign the document to denote their agreement. Lastly, while having a witness signature might be necessary in certain jurisdictions or for specific types of documents, it is not universally required for the enforceability of a mortgage instrument. Thus, the key aspect that ensures enforceability is that the mortgage is in writing.