Massachusetts General Laws ch. 244 sec. 7 – Discharge or release on satisfaction of execution
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Section 7. If, after an execution on a judgment for possession has been levied, the amount due on the mortgage and costs are paid in full, the mortgagee, his executor, administrator or assigns shall, at the expense of the mortgagor, enter on the margin of the record of the execution an acknowledgment of satisfaction or make to the mortgagor a deed of release, which shall be recorded with notes of reference to the execution discharged thereby.
Terms Used In Massachusetts General Laws ch. 244 sec. 7
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Executor: A male person named in a will to carry out the decedent
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.