§ 47-19-57 — Authority of mortgagee designated as nominee or agent - Retroactive application

North Dakota § 47-19-57

• Jurisdiction: North Dakota
• Title 47: Property
• Ch. 47-19: Record Title

Text

application.
1. An assignment, satisfaction, or release is entitled to be recorded in the office of the
county recorder and is sufficient to assign, satisfy, or release a mortgage if:
a. A mortgage is granted to a mortgagee as nominee or agent for a third party
identified in the mortgage, and the third party's successors and assigns;
b. A subsequent assignment, satisfaction, or release of the mortgage is executed by
the mortgagee or the third party, its successors or assigns; and
c. The assignment, satisfaction, or release is in recordable form.
2. The county recorder shall rely upon the recorded assignment, satisfaction, or release
in subsection 1 to assign, satisfy, or release the mortgage.
3. This section applies to any mortgage assignment, satisfaction, or release executed,
recorded, or filed before, on, or after August 1, 2009.