37.1004 Interests in recorded mortgages and leases.

The mortgage shall operate only as a contract between the parties with respect to, and shall not create a lien upon, any recorded mortgage or lease, unless, and until, a specific reference to the mortgage or lease is contained in an instrument or affidavit executed by the mortgagor or mortgagee and duly recorded in the office of the Territorial Registrar.

History: 1978, PL 15-83, 1979, PL 16-48 § 1.