When the mortgagee of any land or tenements shall die leaving minor heirs, the executors or administrators of such mortgagee shall be and are hereby authorized, on receiving the amount due the estate of such deceased mortgage [mortgagee], to release to the mortgagor the legal title of the said mortgaged premises, and such deed of release shall be valid.
History: Laws 1884, ch. 29, § 30; C.L. 1884, § 2255; C.L. 1897, § 2092; Code 1915, § 4778; C.S. 1929, § 117-122; 1941 Comp., § 63-406; 1953 Comp., § 61-7-6.
ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
Compiler's notes. — This section was enacted as part of a law relating to the real estate of decedents, the remaining sections of which were almost entirely superseded by a similar law, former 31-7-9, 31-7-10, 31-7-14 to 31-7-34, 1953 Comp. (now repealed). For present provisions relating to property of decedents, see Uniform Probate Code, Chapter 45 NMSA 1978.
Am. Jur. 2d, A.L.R. and C.J.S. references. — Foreign executor's or administrator's right to discharge mortgage, 10 A.L.R. 283.
33 C.J.S. Executors and Administrators § 181.