HARRY HUGHES, Governor                                         2427

SETTING FORTH THE LAND RECORD REFERENCE WHERE THE MORTGAGE IS
RECORDED.

(e)  A release of a mortgage or deed of trust may be made on
a separate instrument if it states that the mortgagee, trustee,
or assignee releases the mortgage or deed of trust and states the
names of the parties to the mortgage or deed of trust and the
date and recording reference of the mortgage or deed of trust to
be released. In addition, any form of release that satisfies the
requirements of a deed and is recorded as required by this
article is sufficient.

(f)   If a full or partial release of a mortgage or deed of
trust is recorded other than at the foot of the recorded mortgage
or deed of trust, the clerk shall place a reference to the book
and page number or other place where the release is recorded on
the recorded mortgage or deed of trust.

7-106.

(d) Any person who has a lien on real property in this
State, on written request, shall furnish to the person
responsible for the disbursement of funds in connection with the
grant of title to that property the original copy of the executed
release of that lien. If the lien instrument is a deed of trust
the original promissory note marked "paid" or "cancelled" in
accordance with Section 3-105(d)(l) of this article constitutes
an executed release. IF THE LIEN INSTRUMENT IS A MORTGAGE, THE
ORIGINAL MORTGAGE MARKED "PAID" OR "CANCELLED" IN ACCORDANCE WITH
§ 3-105(D)(2) OF THIS ARTICLE CONSTITUTES AN EXECUTED RELEASE.
This release shall be mailed or otherwise delivered to the person
responsible for the disbursement of funds:

(1)  Within seven days of the receipt, by the holder
of the lien, of currency, a certified or cashier's check, or
money order in satisfaction of the debt, including all amounts
due under the lien instruments and under instruments secured by
the lien; or

(2)  Within seven days after the clearance of normal
commercial channels of any type of commercial paper, other than
those specified in paragraph (1), received by the holder of the
lien in satisfaction of the outstanding debt, including all
amounts due under the lien instruments and under the instruments
secured by the lien.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1984.

Approved May 15, 1984.