§667-38 - Recordation; full satisfaction of debt by borrower.
[§667-38] Recordation; full satisfaction of debt by borrower. The recordation of both the conveyance document and the affidavit shall operate as full satisfaction of the debt owed by the borrower to the foreclosing mortgagee even if the foreclosing mortgagee receives nothing from the sale proceeds, unless the debt is secured by other collateral, or except as otherwise provided by law. The debts of other lien creditors are unaffected except as provided in this part. [L 1998, c 122, pt of §1]