58-2253. Action to set aside defective assignment or releases of trust deeds or to foreclose; time limit.
58-2253
58-2253. Action to set aside defective assignment or releases of trustdeeds or to foreclose; time limit.Any holder or assignee of any trust deed of the character mentioned inthe preceding section, or any holder or assignee of the note secured bysuch trust deed, and assignment or release of which executed by the trusteeonly has been on record in the county where the land is situated for morethan ten (10) years prior to the taking effect of this act and more thanten (10) years have elapsed since the time the indebtedness secured by suchtrust deed became due and payable, shall have six (6) months from thetaking effect of this act in which to commence an action to set aside suchassignment or release or to foreclose such trust deed, and if such actionshall not be commenced within said period of six (6) months then suchholder or assignee of said trust deed and the holder or assignee of thenote secured thereby shall forever be barred from bringing any action toset aside such assignment or release or to foreclose such trust deed.
History: L. 1931, ch. 241, § 2; May 28.