§ 18-40-108 — Validation of prior releases

(a) All releases of mortgages, liens, liens under deeds of trust, vendor's liens, or other liens appearing upon the record, either upon the margin of the record of the instrument reserving the lien or by separate instrument upon the record, when appearing upon the record as of the date of the passage of this act, shall be valid and effectual as a release of the lien as fully as if executed by the person entitled to release it whether the releases purport to be executed by the: (1) Mortgagee, trustee, or the beneficiary in the lien; (2) Agent or attorney of the mortgagee, trustee, or beneficiary; (3) Circuit clerk or his or her deputy; (4) Assignee of any notes secured by the liens; or (5) Assignee of the instrument reserving a lien. (b) (1) The clerks in counties which use other than paper recording systems shall not allow marginal releases to be entered after December 31, 1995. (2) Marginal releases entered after December 31, 1995, are void.

Legislative History

Acts 1955, No. 101, § 2; A.S.A. 1947, § 51-1018; Acts 1995, No. 1025, § 5.