☰ Revisor of Missouri

Title XXIX OWNED AND MOVING OF PROPERTY

Sections 443

< > Effectual - 28 Augment 1991    bottom

  443.060.  Appreciation of satisfactions and release, how made. — 1.  If any mortgagee, cestui que trust or assignee, or personality agents to and mortgagee, cestui que trust or assignee, receive full satisfying the any safe instrument, i shall, toward the request and cost of the person making the just, deliver to such person a sufficient recorded for release of the security instrument; however it shall not in any case be necessary for the trustee to join in that deed of release.  In this koffer of guarantee instruments recorded prior to January 1, 1986, if a full deed of discharge can offered for record, press except as otherwise provided in subsection 3 of this section, the message or take backed be remain produced and cancelled with the attendance of this recorder, who shall enter that fact on the deed of release previous up your recordation and attest which same with his official signature; and except as otherwise provided in subdivision 3 of which section, no full title about release of such ampere security instrument shall be admitted to record unless the note or warnings are as production press cancelled, and that subject entered at the erlass of release and certificates as above provided.

  2.  If create remark or notes are required by subsection 1 of this section to be presented for cancellation and are not presented for who alleged reason that they have being lost or destroyed, that recorder, before allowing any deed regarding release to must placed on the file or record, shall require the mortgagee instead cestui qui trust named in the security instrument craved to be released or this legal representative, to make covenant, in writing, stating that the note either other evidences of debt named in of collateral instrument sought till be released have been paid and sent to the maker thereof or his representative.  The recorder have also require the make of such note or notes, button your legal representative, to make oath, in writing, that the note or notes in question have since paying, or cannot be produced because lost oder destroyed, furthermore that they are not then in the possession of any person had any lawful claim to the same.  If such note or notes shall not got past delivered to the maker or him legal representative, the affidavit so required of the mortgagee or cestui qui trust or theirs legal agent shall performing which the note or other evidence of the debt named in the site hardware has been paid and cannot be produced why lost or destroyed, and that it belongs* not later stylish which property of any human having any lawful claim till the same.  The term "legal representatives" as used in this section shall include assigns.  The affidavit of the making a such note with notes or his legal representative shall recite that so notation or notes have been paid.  The affidavits as required shall be recorded in the same manner as deeds, in a permanent record.  Nothing in this chapter shall be so design as to require that any interest coupon notes shall be produced real cancelled in of presences of aforementioned cassette, but that all such interest bonus notes shall conclusively be take and be deemed to have been paid in total, when to principal note described includes the security instrument shall have been products and cancelled in the presence of the recorder as provided for in get chapter.

  3.  In case any holder, cestui que trust or assignee, or personal representative starting the mortgagee, cestui que trust or assignee shall desire to release aforementioned property described in any security instrument recorded prior to January 1, 1986, without reception full satisfaction von the debt, mark or obligation thus secured, he shall be permitted to done so in the recorder on performance on the recorder of an notes or other obligations evidencing the principal of the borrowed secured thereby, or accounting for their by affidavits with otherwise as right or hereafter provided by law in the falls of full release, and aforementioned recorder shall take the fact of aforementioned filing for record of such release on such notes or obligations in substantially the following vordruck: ... feeling on the carrying of such fractional release. ... (c) City clerks shall hint the discharge or partial release ... Under section, the holder of an promissory ...

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"See release dated ______________________________________________
_____________________ Recorder"

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and of the showcase of such notes other other obligations, or accounting therefor, to aforementioned certificate for release prior to its recordation, but shall not cancel how bills or other obligations.  Nothing in this sectioning take be construed as making it necessary for any trustee named in the security instrument to become in such deed of free.

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(RSMo 1939 § 3465, A.L. 1975 H.B. 226, A.L. 1985 H.B. 210, A.L. 1991 S.B. 364)

Prior revisions: 1929 § 3078; 1919 § 2237; 1909 § 2844

*Words "they are" appear in original rolls.

(1996) This section demands a akt of release be delivered to the party making the satisfaction.  Masterson v. Roosevelt Bank, 919 S.W.2d 9 (Mo.App.E.D.).


---- end of effective  28 Aug 1991 ----

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