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This entry was published on 2014-09-22
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SECTION 155
Discharge and cancellation of mortgages by the state
State Finance (STF) CHAPTER 56, ARTICLE 10
§ 155. Discharge and cancellation of mortgages by the state. The
treasurer's receipt, countersigned by the comptroller, setting forth
that the whole sum secured by the mortgage held by the state has been
paid, shall be a sufficient discharge of the mortgage, and the officer
in whose office such mortgage is recorded shall record such receipt as a
satisfaction of the mortgage and satisfy the mortgage of record. When
any part or subdivision of any lot mortgaged to or purchased from the
state, for which a separate account has been opened, is paid, the
comptroller shall execute a discharge of such part or subdivision from
such mortgage.

If a map and survey of the whole lot is filed with the comptroller
showing particularly a part or subdivision for which no separate account
has been opened, and the owner thereof pays into the treasury its full
proportion of principal and interest unpaid, and satisfactory proof is
furnished the comptroller that the residue of the lot is sufficient
security for the sum remaining unpaid, he may execute a like discharge
of such part or subdivision.

The comptroller may cancel and discharge any mortgage, on satisfactory
proof that the moneys loaned and secured by such mortgage have been
fully paid to the officers authorized by law to receive the same if the
mortgage remains uncancelled and undischarged of record.