Mississippi Code
Miss. Code Ann. § 89-5-21 (2024)
Entry of satisfaction upon record of mortgage or deed of trust
✓ Justia copy: laws through about 2024 (2025 and 2026 sessions missing)
- (1) Except as otherwise provided in subsections (3), (4) and (5), any mortgagee or cestui que trust, or assignee of any mortgagee or cestui que trust, of real or personal estate, having received full payment of the money due by the mortgage or deed of trust, shall enter satisfaction upon the margin of the record of the mortgage or deed of trust, which entry shall be attested by the clerk of the chancery court and discharge and release the same, and shall bar all actions or suits brought thereon, and the title shall thereby revest in the grantor.
- (2) Any such mortgagee or cestui que trust, or such assignee, by himself or his attorney, who does not, after payment of all sums owed, within one (1) month after written request, cancel on the record the mortgage or deed of trust shall forfeit the sum of Two Hundred Dollars ($200.00), which can be recovered by suit on part of the party aggrieved, and if after request, he fails or refuses to make such acknowledgment of satisfaction, the person so neglecting or refusing shall forfeit and pay to the party aggrieved any sum not exceeding the mortgage money, to be recovered by action; but such entry of satisfaction may be made by anyone authorized to do it by the written authorization of the mortgagee or beneficiary, duly acknowledged and recorded, and shall have the same effect as if done by the mortgagee or beneficiary.
- (3) With respect to a mortgage or deed of trust which states on its face that it secures a line of credit, satisfaction of record shall be accomplished and extinguishment shall occur as provided in subsection (5).
- (4) As used in this section, the term "line of credit" means any loan, extension of credit or financing arrangement where the lender has agreed to make additional or future advances.
- (5) Any mortgagee or cestui que trust, or the assignee of a mortgagee or cestui que trust, under a mortgage or deed of trust securing a line of credit shall, upon (a) the termination or maturity of the line of credit and the payment of all sums owing in connection with the line of credit, or (b) the payment of all sums owing in connection with the line of credit and a written request by the debtor to cancel the line of credit and the mortgage or deed of trust securing the line of credit, enter satisfaction upon the margin of the record of the mortgage or deed of trust, which entry shall be attested by the clerk of the chancery court and discharge and release the same, and shall bar all actions or suits brought thereon, and the title shall thereby revest in the grantor. For the purpose of this subsection (5), the requirement of a written request by the debtor may be satisfied by a prospective creditor's delivery of a document, signed by the debtor, requesting cancellation of the line of credit and the mortgage or deed of trust securing the line of credit.
Codes, Hutchinson's 1848, ch. 42, art. 1 (33, 34); 1857, ch. 36, art. 14; 1871, § 2297; 1880, § 1206; 1892, § 2451; 1906, § 2781; Hemingway's 1917, § 2285; 1930, § 2155; 1942, § 876; Laws, 1948, ch. 233, § 1; Laws, 1995, ch. 497, § 2; Laws, 1999, ch. 570, § 2; Laws, 2000, ch. 580, § 2, eff. 5/20/2000.
Notes of Decisions
Cited in 7
cases (2 in the last 5 years), 1992–2025 · leading case: Shutze v. Credithrift of Am., Inc., 607 So. 2d 55 (Miss. 1992).
Shutze v. Credithrift of Am., Inc., 607 So. 2d 55 (Miss. 1992). “It is true Miss. Code Ann. § 89-5-21 (1972) requires one such as Credithrift to cancel its deed of trust upon its receipt of "full payment of the money due by the mortgage or deed of trust.”
Iuka Guar. Bank v. Beard, 658 So. 2d 1367 (Miss. 1995). “In addition to requesting actual damages, Beard sought statutory damages pursuant to Miss. Code Ann. § 89-5-21 , or in the alternative, punitive damages for the alleged intentional breach of contract.”
U.S. Bank Nat'l Ass'n ex rel. TBW Mortg.-Backed Trust Series 2006-5 v. State Bank & Trust Co., 45 F. Supp. 3d 582 (S.D. Miss. 2014). “*588 Miss.Code Ann. § 89-5-21(5). This statute provides that “[a]ny mortgage .”
Kinard v. Fleet Real Est. Funding Corp., 461 S.E.2d 833 (S.C. Ct. App. 1995). “Miss. Code Ann. § 89-5-21 ; Okla. Stat. tit.”
Miles v. State Farm Fire & Cas. Co., No. 1:24-cv-00014 (N.D. Miss. Aug. 1, 2025). “In the “Authority to Cancel,” which states it is “[p]ursuant to Miss. Code Ann. § 89-5-21 ,”7 JP Morgan “authorized and requested [the Prentiss County Chancery Clerk] to enter satisfaction of and cancel of record a certain Deed of Trust executed by Delisa G Miles and Jesse Allen…”
Cascade Capital Grp., LLC v. Livingston Holdings, LLC, No. 3:17-cv-00952 (S.D. Miss. Mar. 6, 2020). “See Miss. Code Ann.§ 89-5-21. His decision to instruct People’s Bank to refuse payment for release of the Deed of Trust was clearly against the best interests of Livingston, Chestnut, and Sharpe.”
Felton, No. 25-01001 (Bankr. N.D. Miss. Dec. 23, 2025). “Felton’s claim for recovery under Mississippi Code § 89-5-21 is also barred by sovereign immunity. Felton also seeks statutory damages under Mississippi Code § 89-5-21, which imposes liability on a mortgagee that fails to cancel a mortgage or deed of trust after the underlying…”
Miss. Code Ann. § 89-5-21(5): 1 case
U.S. Bank Nat'l Ass'n ex rel. TBW Mortg.-Backed Trust Series 2006-5 v. State Bank & Trust Co., 45 F. Supp. 3d 582 (S.D. Miss. 2014). “*588 Miss.Code Ann. § 89-5-21(5). This statute provides that “[a]ny mortgage .”
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