Section 75: Mortgagee, lienor, or conditional vendor; duty to state account
228 words·~1 min read·
/ma/part-iii/title-ii/chapter-223/75·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 75. Within a reasonable time after such property has been attached, or, in the case of property subject to a recorded mortgage or covered by a financing statement filed pursuant to the provisions of chapter one hundred and six, within a reasonable time after written notice of the attachment, the mortgagee, pledgee, lienor, conditional vendor or secured party, or his assigns, may demand payment of the money for which the property is liable, giving a just and true account of the debt or demand for which the property is liable to him, showing clearly the balance thereof, whether then payable or payable thereafter, and accompanying it by a reference to the record of recording of a mortgage or the record of filing of a financing statement.
Such demand shall be served, either in hand or by registered mail with a request for a return receipt, upon the attaching creditor, or his attorney, or the attaching officer. If the balance as stated in the account, whether then payable or not, is not paid, or tendered to the mortgagee, pledgee, lienor, conditional vendor or secured party, or his assigns, within ten days after such service, the attachment shall be dissolved and the attaching creditor shall be liable to him for any damage he has sustained by the attachment, and the property shall be restored to the person entitled thereto.