Can someone please help me with this???

I was given a systems equation. Two masses are on a flat frictionless surface tied together. There is a pulley type thing and another mass is hanging over the edge of the table. It is attatched to the other 2 masses. It has no Fn, only Fg because it is hanging.
So I draw lines of Fg and Fn on the other masses, but they cancel out.

M1=12g
M2=8g
I must find out what T1 and T2 are?
Which are the tensions of the rope/string between each of the masses. The problem says everything is frictionless. But then it says the objects are released from rest. (what does that mean?)