DATE:

10/31/05

SUBJECT/TOPIC:

RELEASES OF DEEDS OF TRUST

  Q:

Deed of Trust.  Assignment of Rents and Leases given at same time as additional security for same debt.  Release of Deed of Trust.  Assignment of Rents and Leases not released.  Nothing in it that provides that it is released when Deed of Trust is released.  I didn't find anything on point in Tenn. That said that the Assignment is considered to be released when the Deed of Trust is released.  Of course, I could have been looking in the wrong place.

  A:

Generally it's not an issue since the debt has been paid.  I don't recall seeing anything on it.  Rents are one of the principle incorporeal hereditaments associated with real property.  So a release of the land ought to include rents.  If the deed of trust also contains an assignment of rents then it seems to me that helps the argument that the release was meant to cover the separate assignment as well.

 

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