TITLE 45

LIENS, MORTGAGES AND PLEDGES

CHAPTER 10

MORTGAGE OF REAL PROPERTY

45-1002.  Independent defeasance to be recorded. When a grant of real property purports to be an absolute conveyance, but is intended to be defeasible on the performance of certain conditions, such grant is not defeated or affected as against any person other than the grantee or his heirs or devisees, or persons having actual notice, unless an instrument of defeasance, duly executed and acknowledged, is recorded in the office of the county recorder of the county where the property is situated.

History:

[(45-1002) R.S., sec. 3376; reen. R.C. & C.L., sec. 3404; C.S., sec. 6371; I.C.A., sec. 44-902.]