In re Michel

Motion to discharge of record a mortgage on Peal property is denied. The petitioner has not fulfilled the requirement of section 340 of the Beal Property Law that the “ petition * * * shall allege that such- mortgage is paid ”. On the contrary, petitioner alleges that she has not paid the principal or interest on the mortgage in more than twenty years, since 1932. The twenty-year lapse of time gives rise to a presumption that the mortgage is paid but that is not enough to satisfy the demand of the statute. “It is required, among other things, that the petition ‘ shall allege that such…