Section 721-8 - Residential mortgages; objection to settlement officer satisfaction(a) Objection.--At any time within six years of the date of the recording of a settlement officer satisfaction, a mortgagee who objects to the satisfaction of a mortgage by a settlement officer satisfaction on the grounds that there are still outstanding obligations secured by the mortgage may prepare and present for recording an objection. The objection shall be acknowledged as provided by law, shall recite in particularity the reasons why the mortgage should not be marked satisfied and shall be recorded in the same manner as the settlement officer satisfaction.(b) Effect of proper objection.--In a case where a settlement officer satisfaction is recorded concerning a mortgage and a proper objection to that settlement officer satisfaction is presented for recording by the mortgagee and recorded, the settlement officer satisfaction shall be considered void, and the mortgage shall be considered unsatisfied as a matter of record, provided, however, such objection shall be void as against any bona fide purchaser, mortgagee or lien creditor for a valid consideration whose deed, mortgage, judgment or lien was recorded prior to the time the objection was recorded. The recording officer shall enter an appropriate record to indicate that the mortgage is unsatisfied and the settlement officer satisfaction is void. Recording of a settlement officer satisfaction which is rendered void due to the filing of a proper objection shall not relieve the mortgagor or the mortgagor's successors or assigns from any personal liability for the obligations secured by the mortgage, nor shall it discharge the lien of the mortgage.2002, Dec. 9, P.L. 1530, No. 197, § 8, effective in 60 days.