Tennessee Code 66-25-105 – Partial or full payment – Extent of satisfaction and discharge
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Terms Used In Tennessee Code 66-25-105
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in a perceivable form. See Tennessee Code 1-3-105
A partial or full payment to the mortgage lender of record on a debt secured by a mortgage or deed of trust shall be a satisfaction and discharge against the mortgagee, or the assignee or transferee of a debt secured by such instrument, as to the amount of such payment.