27.1511 Filing of instrument of satisfaction.

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When the obligation secured by any of the instruments mentioned in 27.1510 has been satisfied, the owner or holder of the instrument shall satisfy the same in the records of the Terri-torial Registrar by filing an instrument of satisfaction or by endorsing upon the margin of the record a statement, signed by him, releasing his interest in the property affected.

History: 1962, PL 7-31; 1968, PL 10-68.