76-253. Mortgage; record; certificate of discharge or satisfaction.
239 words·~1 min read·
/ne/chapter-76/76-253A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any mortgage shall be discharged upon the record thereof by the register of deeds in whose custody it shall be, whenever there shall be presented to him a certificate executed by the mortgagee, his legal personal representative or assignee, acknowledged or proved or certified as prescribed in sections 76-216 to 76-236 , specifying that such mortgage has been paid, or otherwise satisfied and discharged.
A mortgagee who releases a mortgage, as to all lands therein described, to a grantee of the mortgagor without the latter's consent, cannot hold such mortgagor personally liable for the debt secured when the actual value of the lands so released exceeds or equals the indebtedness secured by such mortgage. Petters v. Storm, 132 Neb. 542, 272 N.W. 409 (1937).
Failure to release mortgage of record may subject the mortgagee to penalties but has no effect to keep mortgage in existence when debt has been paid. Shriver v. Sims, 127 Neb. 374, 255 N.W. 60 (1934).
Lien is extinguished by formal release whether paid or not. Gadsden v. Johnson, 65 Neb. 447, 91 N.W. 285 (1902).
Release, acknowledging full payment, but describing only part of land, is a complete release. Gadsden v. Latey, 42 Neb. 128, 60 N.W. 322 (1894).
Release by mortgagee after assignment is effective as to bona fide purchaser without notice. Whipple v. Fowler, 41 Neb. 675, 60 N.W. 15 (1894); Montgomery v. Waite, 1 Neb. Unof. 144, 95 N.W. 343 (1901).