Tennessee Code 66-25-201 – Marginal release authorized
Terms Used In Tennessee Code 66-25-201
- Contract: A legal written agreement that becomes binding when signed.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- 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.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
- Personal representative: when applied to those who represent a decedent, includes executors and administrators, unless the context implies heirs and distributees. See Tennessee Code 1-3-105
- 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
- Representative: when applied to those who represent a decedent, includes executors and administrators, unless the context implies heirs and distributees. See Tennessee Code 1-3-105
- written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105
The release on satisfaction of any debt, contract or obligation, secured by mortgage or deed of trust, liens retained upon the face of any deed or conveyance, or any other lien, evidenced by written instrument, probated and registered according to law, and the discharge of any such mortgage, deed of trust, or other lien, may be acknowledged by the payee, creditor, obligee, or holder of such debt, contract, or obligation, or by such person‘s true and lawful assignee, or by the personal representative of such holder, or the assignee of such representative, by an entry, subscribed in the presence of the register of the county where any such instrument is lawfully registered, on the margin of the record thereof, or by execution in like manner of a statement of release in substantially the form prescribed in § 66-25-202 that may be recorded as a written release to allow for effecting the equivalent of a marginal release where microfilming or photocopy or other permanent recording processes are used, and where so done, the statement of release shall be filed and recorded by the register; provided, that the register is personally acquainted with such holder or person making such release, and shall subscribe the same as a witness, in authentication thereof, which the register’s official signature shall conclusively imply. Any such entry, when made in accordance with §§ 66-25-201 – 66-25-203, shall have the same effect as a deed of release or quitclaim, duly executed by the person making the release, authenticated and registered.