A. A transferee of an obligation secured by a mortgage is not bound by any unrecorded act releasing, amending, or otherwise modifying the mortgage if he is a third person with respect to that unrecorded act.
B. A recorded transfer, modification, amendment, or release of a mortgage or privilege made by the obligee of record is effective as to a third person notwithstanding that the obligation secured by the mortgage or privilege has been transferred to another.
C. For the purpose of this Chapter, the obligee of record of a mortgage or privilege is the person identified by the mortgage records as the obligee of the secured obligation.
A. A transferee of an obligation secured by a mortgage is not bound by any unrecorded act releasing, amending, or otherwise modifying the mortgage if he is a third person with respect to that unrecorded act.
B. A recorded transfer, modification, amendment, or release of a mortgage or privilege made by the obligee of record is effective as to a third person notwithstanding that the obligation secured by the mortgage or privilege has been transferred to another.
C. For the purpose of this Chapter, the obligee of record of a mortgage or privilege is the person identified by the mortgage records as the obligee of the secured obligation.
A. A transferee of an obligation secured by a mortgage is not bound by any unrecorded act releasing, amending, or otherwise modifying the mortgage if he is a third person with respect to that unrecorded act.
B. A recorded transfer, modification, amendment, or release of a mortgage or privilege made by the obligee of record is effective as to a third person notwithstanding that the obligation secured by the mortgage or privilege has been transferred to another.
C. For the purpose of this Chapter, the obligee of record of a mortgage or privilege is the person identified by the mortgage records as the obligee of the secured obligation.