WILLIAM DONALD SCHAEFER, Governor Ch. 716
if any, and words indicating that the check is intended as
payment in full of the debt being satisfied; and
(iii) There is attached to the canceled check
an affidavit made by a member of the Maryland Bar that the
mortgage or deed of trust has been satisfied, that the notice
required under subparagraph (i) of this paragraph has been sent,
and specifically setting forth the land record reference where
the original mortgage or deed of trust is recorded.
(4) WHEN THE DEBT SECURED BY A MORTGAGE OR DEED OF
TRUST IS FULLY PAID OR SATISFIED AND THE HOLDER OR THE AGENT OF
THE HOLDER OF THE MORTGAGE OR DEED OF TRUST NOTE EXECUTES AND
ACKNOWLEDGES A CERTIFICATE OF SATISFACTION IN THE FORM SPECIFIED
UNDER § 4-203(C) § 4-203(D) OF THIS ARTICLE, CONTAINING THE NAME
OF THE DEBTOR, HOLDER, OR THE AUTHORIZED AGENT OF THE HOLDER, THE
DATE, AND THE LAND RECORD RECORDING REFERENCE OF THE INSTRUMENT
TO BE RELEASED, IT MAY BE RECEIVED BY THE CLERK AND INDEXED AND
RECORDED AS ANY OTHER INSTRUMENT IN THE NATURE OF A RELEASE. THE
CERTIFICATE OF SATISFACTION SHALL HAVE THE SAME EFFECT AS A
RELEASE EXECUTED BY THE HOLDER OF A MORTGAGE OR THE NAMED TRUSTEE
UNDER A DEED OF TRUST.
(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) (1) A HOLDER OF A DEBT SECURED BY A MORTGAGE OR DEED OF
TRUST, OR A SUCCESSOR OF A HOLDER, MAY RELEASE PART OF THE
COLLATERAL SECURING THE MORTGAGE OR DEED OF TRUST BY EXECUTING
AND ACKNOWLEDGING A PARTIAL RELEASE ON AN INSTRUMENT SEPARATE
FROM THE MORTGAGE OR DEED OF TRUST.
(2) A PARTIAL RELEASE SHALL:
(I) BE EXECUTED AND ACKNOWLEDGED BY THE
MORTGAGEE, THE NAMED TRUSTEE UNDER A DEED OF TRUST, OR THEIR
SUCCESSORS;
(II) CONTAIN THE NAMES OF THE PARTIES TO THE
MORTGAGE OR DEED OF TRUST, THE DATE, AND THE LAND RECORD
RECORDING REFERENCE OF THE INSTRUMENT SUBJECT TO THE PARTIAL
RELEASE; AND
(III) OTHERWISE SATISFY THE REQUIREMENTS OF A
VALID DEED.
- 4059 -
|