The appearance of the words "trustee" or "as trustee" or "agent" following the name of the mortgagee in any mortgage on real estate or personal property heretofore or hereafter executed, without other language showing a trust, shall not be deemed to give notice to or put on inquiry any person dealing with said property or mortgage that a trust exists, or that there are other beneficiaries of said mortgage except the mortgagee named therein, and such mortgage shall vest full rights and ownership to such mortgage and lien created thereby in such mortgagee, and an assignment or release of said mortgage by such mortgagee, whether followed by the words "trustee" or "as trustee" or "agent" or not, shall vest full and complete title and ownership in said mortgage in the assignee, or shall constitute a full and complete release of said mortgage, free from any claims of all persons or corporations. This act shall not apply to any suits now pending.
Laws 1953, p. 65, § 2.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
