(a) All costs of making entry of partial or entire payments upon the record, or for registering a formal release, shall be paid by the holder of the debt secured by the mortgage, deed of trust, or other lien.

Terms Used In Tennessee Code 66-25-106

  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in a perceivable form. See Tennessee Code 1-3-105
(b) Notwithstanding the obligation of the holder of the debt to make the payment of costs set forth in subsection (a), the holder may assess and collect fees from the borrower of the debt secured by the mortgage, deed of trust, or other lien for all anticipated or actual costs to make entry of partial or entire payments upon the record, or for registering a formal release.
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