§ 18-40-107 — Attestation of satisfaction - Separate release

Arkansas § 18-40-107

• Jurisdiction: Arkansas
• Title: 18

Text

(a) In all cases in which the party receiving satisfaction of any indebtedness secured by mortgage, deed of trust, or lien affecting real estate is required by law to acknowledge it on the margin of the record, the satisfaction shall be signed by the party and his or her signature shall be attested and dated by the clerk. The attestation by the clerk shall be evidence of the facts recited therein. (b) The effectual discharge of any lien, deed of trust, or mortgage lien in note, bond, or other instrument may be made by a separate release deed or instrument duly executed, acknowledged, and recorded. This instrument when so recorded shall be of the same effect as a marginal entry. (c) (1) Subsection (a) of this section does not apply in counties which use other than paper recording systems. (2) In counties which use other than paper recording systems, the clerks shall not allow marginal notations of satisfaction of any indebtedness after December 31, 1995. (3) In counties which use other than paper recording systems, marginal notations made after December 31, 1995, are void.

Legislative History

Acts 1917, No. 374, § 3; C. & M. Dig., § 7400; Pope's Dig., § 9457; A.S.A. 1947, § 51-1017; Acts 1995, No. 1025, § 4.