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Sections of the constitution and the codes of California; and amendments thereto, relating to banks and banking, and building and loan associations

Sections of the constitution and the codes of California; and amendments thereto, relating to banks and banking, and building and loan associations

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1892 Excerpt: ...a mortgage may be recorded in merftof like manner as a mortgage, and such record operates as notice an'otice to all persons subsequently deriving title to the mortgage from the assignor. 2935. When the mortgage is executed as security for money when not due, or to become due, on a promissory note, bond, or other in-mortgagor. strument, designated in the mortgage, the record of the assignment of the mortgage is not, of itself, notice to a mortgagor, his heirs, or personal representatives, so as to invalidate any payment made by them, or either of them, to the person holding such note, bond, or other instrument. Mortgage 2936. The assignment of a debt secured by mortgage carries atsSign-by with it the security. g" o? 2938. A recorded mortgage may be discharged by an entry Mortgage, in the margin of the record thereof, signed by the mortgagee, charged! or his personal representative or assignee, acknowledging the satisfaction of the mortgage in the presence of the Recorder, who must certify the acknowledgment in form substantially as follows: "Signed and acknowledged before me, this day of, in the year. A. B., Recorder." 2939. A recorded mortgage, if not discharged, as provided Same' in the preceding section, must be discharged upon the record by the officer having custody thereof, on the presentation to him of a certificate signed by the mortgagee, his personal representatives or assigns, acknowledged or proved and certified as prescribed by the chapter on recording transfers, stating that the mortgage has been paid, satisfied, or discharged. 2940. A certificate of the discharge of a mortgage, and the same, proof or acknowledgment thereof, must be recorded at length, and a reference made in the record to the book and page where the mortgag...