Alabama Code 35-10-28. Entry of full payment or satisfaction in record – Satisfaction by one of several joint mortgagees, etc
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Terms Used In Alabama Code 35-10-28
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Probate: Proving a will
- state: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Alabama Code 1-1-1
The satisfaction in full by any one of several joint mortgagees, or his successors or assigns, on the margin of the record, and properly attested by the probate judge, or his chief clerk, or the filing of a release by such party properly notarized, acknowledging full satisfaction of any mortgage in the names of two or more persons jointly as mortgagees standing on the probate records of any county in this state, shall be sufficient to extinguish the lien of such mortgage.
The provisions of this section shall also relate to and be effective as to vendor’s liens reserved in deeds or other instruments of record in any probate office in this state.