§ 76-256 — Mortgage; assignment; recording not notice to mortgagor

The recording of an assignment of a mortgage shall not, in itself, be deemed notice of such assignment to the mortgagor, his heirs or personal representatives, so as to invalidate any payment made by them, or either of them, to the mortgagee.

Legislative History

Source: R.S.1866, c. 43, § 44, p. 290; R.S.1913, § 6229; C.S.1922, § 5628; C.S.1929, § 76-234; R.S.1943, § 76-256. Annotations: Recording assignment of mortgage is not notice to mortgagor so as to invalidate payment to mortgagee. Shriver v. Sims, 127 Neb. 374, 255 N.W. 60 (1934). Record of assignment is constructive notice to mortgagor. Bettle v. Tiedgen, 85 Neb. 276, 122 N.W. 890 (1909), rehearing on 77 Neb. 795, 110 N.W. 548 (1906). Transfer of interest coupon to third person operates as assignment pro tanto. New England Loan & Trust Co. v. Robinson, 56 Neb. 50, 76 N.W. 415 (1898). Payment to third party is at mortgagor's risk, and must prove agency. Richards v. Waller, 49 Neb. 639, 68 N.W. 1053 (1896). Mortgagor is protected only by paying party who holds note. Bull v. Mitchell, 47 Neb. 647, 66 N.W. 632 (1896). Section has no application to holder of negotiable paper transferred before maturity. Stark v. Olsen, 44 Neb. 646, 63 N.W. 37 (1895); Eggert v. Beyer, 43 Neb. 711, 62 N.W. 57 (1895).