In House Release
KRS 382.360 (1) provides the clerk with the option of using a marginal entry record for releasing mortgages. This form can be used in place of the marginal entry, but caution needs to be used when releasing a mortgage in this manner.
The statute states that the person entitled to release the lien or their personal representative or agent and attested by the clerk must sign the record. This means that the person releasing the mortgage must be the legal holder of the mortgage and that it must be signed in front of the deputy or the clerk. The person releasing the mortgage should show identification. The release also must state the date and the book and page of the original filing. The statute does indicate that the legal holder or their agent may sign the release (effective 7-12-2006). If an agent or representative sign, they must sign the legal holder's name by name of the agent and indicate if agent or personal representative. This is ONLY true for a marginal release not a written "deed of release".
IMPORTANT NOTE: Per KRS 382.290(6) No holder of a note secured by lien retained in either deed or mortgage shall lodge for record, and no clerk or deputy clerk shall receive and permit to be lodged for record, any deed or instrument of writing that does not comply with the provisions of this section. Meaning a release shall not be lodged with the clerk or deputy clerk without first verifying the release is from the legal holder, and the book and page of the document to be released, is the correct document. See Penalties sections KRS 382.990.
This release should only be used for releasing mortgages or vendor’s liens. It is not intended to be used for releasing mechanic’s liens, judgment liens or neighborhood association liens.