Digest of Legal Opinions of Thomas B Paton General Counsel of the American Ban
Digest of Legal Opinions of Thomas B Paton General Counsel of the American Ban
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American L. & T. Co. , 80 Fed. 49. {In- quiry Jrom III. , Jan. , 1919. ) Satisfaction of record of deed of trust after death of holder 1287. In 1901 A and his wife gave a note to B, secured by a deed of trust on a tract of land. A few years later A paid the note by check, but the deed of trust was not satis- fied of record. B has since died, leaving a widow, and an administrator appointed has duly administered and settled up the estate.
What can A do to effect a release and re- move the cloud u...pon his title to the land? Opinion: Under the Missouri statute (Rev. St. Mo. 1909, Sec. 2844), providing that the beneficiary under a deed of trust, and not the trustee, shall release the deed on the margin of the record, the indorsee and holder of a note secured by a deed of trust is the proper party to release the same (Ripley Nat. Bank v. Conn. Mut. L. Ins. Co. , 145 Mo. 142). In the instant case it would seem to be only necessary to follow the provisions of the Missouri statute, Sec. 2844. That section provides that if any mortgagee, cestui que trust or assignee, or administra- tor of the mortgagee, cestui que trust or assignee, receive full satisfaction of any mortgage or deed of trust, he shall, at the request and cost of the person making same, acknowledge satisfaction of the mortgage or deed of trust on the margin of the record thereof; and it is not necessary for the trustee to join in such acknowledgment of satisfaction.
What to read after Digest of Legal Opinions of Thomas B Paton General Counsel of the American Ban?
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To quickly assess the difficulty of the text, read a short excerpt:
American L. & T. Co. , 80 Fed. 49. {In- quiry Jrom III. , Jan. , 1919. ) Satisfaction of record of deed of trust after death of holder 1287. In 1901 A and his wife gave a note to B, secured by a deed of trust on a tract of land. A few years later A paid the note by check, but the deed of trust was not satis- fied of record. B has since died, leaving a widow, and an administrator appointed has duly administered and settled up the estate.
What can A do to effect a release and re- move the cloud u...pon his title to the land? Opinion: Under the Missouri statute (Rev. St. Mo. 1909, Sec. 2844), providing that the beneficiary under a deed of trust, and not the trustee, shall release the deed on the margin of the record, the indorsee and holder of a note secured by a deed of trust is the proper party to release the same (Ripley Nat. Bank v. Conn. Mut. L. Ins. Co. , 145 Mo. 142). In the instant case it would seem to be only necessary to follow the provisions of the Missouri statute, Sec. 2844. That section provides that if any mortgagee, cestui que trust or assignee, or administra- tor of the mortgagee, cestui que trust or assignee, receive full satisfaction of any mortgage or deed of trust, he shall, at the request and cost of the person making same, acknowledge satisfaction of the mortgage or deed of trust on the margin of the record thereof; and it is not necessary for the trustee to join in such acknowledgment of satisfaction.
What to read after Digest of Legal Opinions of Thomas B Paton General Counsel of the American Ban?
You can find similar books in the "Read Also" column, or choose other free books by Thomas Bugard Paton to read onlineMoreLess
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