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Introduced Version Senate Bill 585 History

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SB585 intr
Senate Bill No. 585

(By Senators Kessler, Chafin and Minard)

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[Introduced February 16, 2010; referred to the Committee on Banking and Insurance; and then to the Committee on the Judiciary.]

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A BILL to amend and reenact §38-12-1 and §38-12-8 of the Code of West Virginia, 1931, as amended, all relating to requiring lienholders to record a release in the county clerk's office within sixty days after the lien has been satisfied; and requiring that liens be removed from record upon satisfaction.

Be it enacted by the Legislature of West Virginia:
That §38-12-1 and §38-12-8 of the Code of West Virginia, 1931, as amended, be amended and reenacted, all to read as follows:
ARTICLE 12. RELEASE AND ASSIGNMENT OF LIENS.
§38-12-1. When release of lien required; requisites thereof.

(a) Every person entitled to the benefit of any lien on any estate, real or personal, or to the money secured thereby, whether the lien was created by conveyance, judgment, decree, lis pendens, notice of attachment, deed of trust, contract or otherwise, shall be is required to furnish and execute an apt and proper written release thereof of the lien free of charge to the debtor whose obligation secured by such the lien has been fully paid and satisfied, if the lien is of record in the proper county. Such The release shall be executed and furnished to the debtor within thirty days after the debt has been satisfied.
(b) Such The release of lien shall be executed by the lienholder and acknowledged before the clerk of the county commission in whose office the lien is recorded or before such other another person authorized to take acknowledgments of deeds within sixty days after the lien has been satisfied. Such The written release shall be deemed is sufficient if it describe describes the lien to be released by any words that will identify and show an intent to discharge the same lien. Releases may also be made according to the provisions of section two of this article.
§38-12-8. Recordation of release; effect.
When the release has been so signed and acknowledged, it may be presented for record to the clerk in whose office the lien thereby intended to be released is recorded or docketed, and from and after the time the same it is so left for record (which time the clerk shall indorse thereon) such the lien shall be discharged, and extinguished and removed from the record, unless the lienholder files an extension, and the estate, of whatever kind, bound or affected thereby, shall be deemed to be by the lien is vested in the former owner or those claiming under him or her, as if such the lien had never existed. Liens that have been satisfied as of July 1, 2005, and have not been removed from the record may be removed by the county clerk's office and the county tax department.


NOTE: The purpose of this bill is to:

(1) Require lienholders to record a release in the county clerk's office within sixty days after the lien has been satisfied; and
(2) Require that liens be removed from record upon satisfaction.

Strike-throughs indicate language that would be stricken from the present law, and underscoring indicates new language that would be added.
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