Legal Question in Real Estate Law in Mississippi

can I divide my mortgaged property?

My mortgage loan was taken for my house and 5 acres of land (so said the realtor) but it was entered on the books as being on all 27 acres of land. Can the 22 acres be seperated out without paying off my mortgage?

Asked on 6/22/09, 6:52 pm

1 Answer from Attorneys

Albert Pettigrew Law Offices Ph 228-875-8736

Re: can I divide my mortgaged property?

If the deed of trust was given for more land than was intended, the mortgage company (mortgagee) can execute a release of the described 22 acres from the deed of trust. In Cox v. Trustmark Nat'l Bank733 So.2d 353 (Miss. COA 1999), the Court relied upon a deed of trust partial release.

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Answered on 6/23/09, 10:12 am

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