58-2252. Validating defective assignments and releases of trust deeds. In any case where a trust deed upon real estate in Kansas, given to secure the payment of a note payable to some person other than the trustee named in the trust deed, has been assigned or released by the trustee, without the payee in the note joining in such assignment or release, such assignment or release shall be deemed to be valid and the lien of such trust deed shall be deemed to be canceled notwithstanding the trustee is a trustee in name only and the trust deed gives the trustee no power to collect the debt or release the trust deed: Provided, That this act shall not apply to any assignment or release which has not been recorded in the office of the register of deeds in the county where the land is situated at least ten (10) years prior to the taking effect of this act: And provided further, That this act shall not apply to any trust deed unless the debt secured thereby shall be due and payable for at least ten (10) years prior to the taking effect of this act.
History: L. 1931, ch. 241, § 1; May 28.
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