Section 1921-A. Partial release from lien of mortgaged premises

1. Whenever
  the owner of mortgaged property situate in this state shall be entitled,
  pursuant  to  the  terms  of  the mortgage encumbering such property, to
  obtain the release of a portion thereof from the lien of such  mortgage,
  then,  upon  (1)  delivery  by  such owner to the mortgagee of a partial
  release from lien of mortgaged  premises,  in  a  form  entitled  to  be
  recorded,  describing  the portion of the mortgaged premises so entitled
  to be released, together with the fees allowed by law for the taking  of
  the  acknowledgment of a deed, (2) proof that all requirements set forth
  in such mortgage as conditions precedent to the execution  and  delivery
  by  the  mortgagee  of such partial release have been satisfied, and (3)
  payment, or tender of payment, to the mortgagee  of  all  sums  required
  under  the  terms  of  the  mortgage  to  be paid to obtain such partial
  release, such mortgagee must execute and  acknowledge  before  a  proper
  officer,  in  like manner as to entitle a conveyance to be recorded, the
  partial release theretofore delivered to such mortgagee  or  such  other
  partial release from lien of mortgaged premises as may be required to be
  executed  under  the  terms  of  the mortgage, which release shall be in
  recordable form.
    2. Upon the failure or refusal of any such mortgagee  to  comply  with
  the  foregoing  provisions  of  this section, any owner of the mortgaged
  premises may apply to the supreme court or a justice thereof, or to  the
  county  court  or  a  judge  thereof,  in  or of any county in which the
  mortgaged premises or any part thereof are situated in whole or in part,
  upon a petition, for an order to show cause why an order should  not  be
  made  by  such  court releasing of record from the lien of said mortgage
  the parcel or parcels of land described in said release,  and  directing
  the  register  or  clerk of any county in whose office the same may have
  been recorded to mark the same upon his records as released  as  to  the
  parcel  or  parcels  described  in  such order, and further ordering and
  directing that the debt or other obligation secured by the  mortgage  be
  reduced in the amount tendered or paid, upon condition that in the event
  such mortgage or part thereof is not paid, the sums tendered pursuant to
  the  foregoing  provisions  of  this  section  be  paid  to  the officer
  specified by law to hold court funds and moneys deposited  in  court  in
  the  county  wherein  the mortgaged premises are situated in whole or in
  part for the purpose of paying said sum  over  to  the  mortgagee.  Said
  petition  must  be  verified in like manner as a verified pleading in an
  action in the supreme court and it must set forth  the  grounds  of  the
  application.
    3.  In any case where an actual tender, as provided in subdivision one
  of this section, cannot, with due diligence, be made, any owner  of  the
  mortgaged  premises may apply to the supreme court or a justice thereof,
  or to the county court or a judge thereof, in or of any county in  which
  the  mortgaged premises, or any part thereof are situated in whole or in
  part, upon petition setting forth the grounds  of  the  application  and
  verified  as  aforesaid,  for an order to show cause why an order should
  not be made by said court releasing of  record  the  parcel  or  parcels
  described  in  said release from the lien of the mortgage, and directing
  the register or clerk of every county in which  the  mortgaged  premises
  are  located  to  mark  the  same upon his records as released as to the
  parcel or parcels described in  such  order  and  further  ordering  and
  directing  that  the debt or other obligation secured by the mortgage be
  reduced, upon  condition  that  the  prerequisites  for  obtaining  such
  release  set forth in subdivision one of this section and the sum of the
  mortgage required to be paid pursuant to the  terms  and  conditions  of
  said  mortgage  and  fees allowed by law or the mortgage, be paid to the
  officer specified by law to hold court funds  and  moneys  deposited  in

  court in the county wherein the mortgaged premises are situated in whole
  or in part until such time as said sums may be claimed by the mortgagee.
    4.  Eight  days'  notice  of  the application for either of the orders
  provided for in subdivisions two and three  of  this  section  shall  be
  given to the mortgagee. Such notice shall be given in such manner as the
  court  or the judge or justice thereof to whom the petition is presented
  may direct, and said court or judge or justice may require  such  longer
  notice  to be given as may seem proper. If sufficient cause be shown the
  court or judge or justice thereof may issue such  order  to  show  cause
  returnable in less than eight days.
    5.  Upon  the  return day of such order to show cause, the court, upon
  proof of due service thereof  and  on  proof  of  the  identity  of  the
  mortgagee  and  of the person presenting the petition, shall inquire, in
  such manner as it may deem advisable, into the truth of  the  facts  set
  forth in the petition, and in case it shall appear that said sum or sums
  required to be paid pursuant to the terms and conditions of the mortgage
  and  the  fees  allowed  by  law have been duly paid or tendered but not
  accepted, said partial release from lien of mortgage instrument has been
  duly presented for execution, or that such tender and presentation could
  not have  been  made  with  due  diligence  and  the  prerequisites  for
  obtaining  such  release as set forth in subdivision one of this section
  have been met, then, in the event that  portion  of  the  lien  of  such
  mortgage  required  to  be released pursuant to the terms and conditions
  thereof is not so released, the court shall make an order directing  the
  sums  so  tendered,  or  in a case where such tender could not have been
  made as aforesaid, directing the sum or sums so required  and  the  fees
  allowed by law, to be paid to the officer specified by law to hold court
  funds   and  moneys  deposited  in  court  in  the  county  wherein  the
  application herein is made, and directing and ordering  that  upon  such
  payment  the debt or other obligation secured by the mortgage be reduced
  and further directing the register or clerk of every county in which the
  mortgaged premises are located to mark said mortgage reduced  of  record
  upon  the  production  and  delivery  to  such  register  or  clerk of a
  certified copy of the order and the receipt of such officer showing that
  the amount required by said order and which receipt shall  be  recorded,
  filed  and indexed by any such register or clerk in the same manner as a
  certificate of discharge of a release from lien of  mortgaged  premises.
  Said  receipt need not be acknowledged to entitle it to be recorded. The
  court in its discretion, when granting any such order after  application
  therefor  pursuant  to  subdivision two of this section, may award costs
  and reasonable attorneys' fees to the person making the application,  in
  the  absence of the showing of a valid reason for the failure or refusal
  to execute the partial release  from  lien  of  mortgaged  premises  and
  deliver the same. The money deposited shall be payable to the mortgagee,
  his  representatives  or  assigns,  less  any court costs and reasonable
  attorneys' fees allowed by the court as herein provided which  shall  be
  paid to the owner of the mortgaged premises who has made application for
  the  order  herein  referred  to  upon  an order of the supreme court or
  county court, directing the payment thereof  to  such  owner  upon  such
  evidence as to his right to receive the same as shall be satisfactory to
  the court.
    6.  Wherever  any register or clerk shall record any order and receipt
  as hereinbefore specified, he shall mark the record of said mortgage, if
  same be recorded, as follows:
    "Part of the premises herein described have been released from lien of
  this  mortgage  by  order  of  the__________________court,   County   of
  ___________,  dated___________and  filed____________a description of the
  property so released being contained in such order"  and  thereupon  the

  lien  of such mortgage shall be deemed to be released as to the premises
  so described in such order and the debt or  obligation  secured  thereby
  shall  be  deemed to be reduced as provided in such order. Said register
  or  clerk  shall  be  permitted  to charge for recording and filing said
  order and receipt, the same fees to which he is entitled  for  recording
  and filing a certificate of release of lien of mortgaged premises.
    7.  The  word  "mortgagee"  whenever  used  in  this  section shall be
  construed to include the persons entitled  to  enforce  or  satisfy  the
  mortgage  and  the  personal representatives, successors and assigns, of
  such persons.
    8. Nothing contained in this section shall limit or abridge any rights
  or remedies otherwise available at law or in equity to the owner of  the
  mortgaged  premises  or  any  other  person  having  an interest in such
  mortgaged premises.