57-3-204. Constructive notice -- Effect as between direct parties to mortgage or trust deed.
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57-3-204. Constructive notice -- Effect as between direct parties to mortgage or trust deed.
(1)The recording of a mortgage or trust deed that incorporates a provision of a master form in accordance with Section 57-3-203 , operates as constructive notice of the mortgage or trust deed, including all incorporated provisions of the referenced master form.
(2)Nothing in this part modifies the law regarding the effectiveness of a mortgage, trust deed, or contract as between:
(a)the mortgagor and mortgagee of the mortgage; or
(b)the trustor, beneficiary, and trustee under a trust deed.
Enacted by Chapter 61 , 1998 General Session