Page:United States Statutes at Large Volume 31.djvu/1324

 1272 ELETY-sixrH CONGRESS. sSSS. 11. ou. 851. 1901. "‘"`°""l°‘· Sec. 527. Every such assignment provided for in section five hundred and twenty-six aforesaid inay be recorded at or near the foot of the said mortgage, in the blank space directed to be reserved therefor, as aforesaid, and such record shall have the same effect as notice to all persons dealing with the property embraced in said mortgage which is allowed by law to the record of the mortgage. R°l°”°· Sec. 528. RELEASE.é—A release of a mortgage may be made by the original creditor who is the holder of the note or notes or other instruments secured thereby, or by any assignee of said notes or other instruments to whom said mortgage may also have been assigned, in the following or an equivalent form: -‘°““· I hereby release the above (or within) mortgage. Witness my hand and seal this r - .. - day of .._... . VVitness: ———-—— ———. [Seal.] ‘°°k“°“'1°dgm‘*“‘· And said release may be acknowledged before any officer authorized to take the acknowledgment of deeds in the following or equivalent form namely: Acknowledged before ine this -- day of _. · l · C D, Notary Public. ""’°°’dl“g· "”°· Sec. 529. Said release may be written on the orignalmortga e, and u&on said mortgage, with the release thereon written, being filed in the o ce of the recorder of deeds, he shall record said release in the blank space to be reserved as aforesaid, or in the margin of said record, and index the same, and said mortgage shall be retained in his office and not be allowed to be again withdrawn therefrom. S‘f,"§,§‘d,‘f,§y‘j,{€’,§°’(fg Sec. 530. _Every person whose property is subject to a mortgage 5:%% ew- given to secure a note or notes, bond or bonds, or other instruments binding to the payment of mone r, shall be entitled, on payment or tender of the full amount of the debt, at or after its maturity, to the creditor entitled to the same, if he is the original creditor, or is the assignee of said mortgage, to have said mortgage surrendered to him, unless the same shall have been lost or destroyed, and to have said mortgage released by the creditor holding the same, in the manner above mentioned. f,_"{g`§§f§§,_ dm ”" Sec. 531. If the debt secured by mortgage shall be assigned, but the mortgage shall not be assigned to the older of said debt, or if the original mortgage havin been assigned shall be lost or destroyed, the owner of the incumbere§ property, on payment of the debt, shall be entitled to a deed of release from the mort agee; and in no other case where the mortgage has been assigned by the original creditor secured thereby shall the original mortgagee be authorized to execute a deed of release. $"1"*‘“’ "’*°°°““‘· Sec. 532. A release made as provided in the foregoing sections by the original creditor holding a ll101`i3 .ge for the security of a debt, or by any indorsee or assignee of said dggbt who shall also hold an assignment of said mortgage, shall be as effectual to extinguish said mortgage as if the mortgagee nad executed a deed of release of the incumbered property; but if the original creditor secured by mortgage has not assigned either his debt or his mortgage, the owner of the incumbered property may, at his election, on payment of the debt, require a _ _ deed of release from the mortgagee. ‘ S“""`“‘°f“""‘ Sec. 533. SURVIVAL or '1`ITLE.—·\Vll€llBV€I' a mortgage or deed of trust to secure a debt is executed to two or more mortgagees or trustees in fee simple, upon the death of any one or more of them the legal title and the trust attached to it shall be held to survive to the survivor or survivors and the heirs of the last survivor, subject to the provisions aforesaid. · mQ$;;*&,gfm°**g¤g€° Sec. 534. DEATH or MoRrGAeEE on TRUSTEE.——Il`1 case of the death limceediug for ap- of a sole ‘mortga ee or trustee, or the last survivor of several, if the
 * §’Q§,g§_€u° °f mw debt secured by gre mortgage or deed of trust shall not have been paid,