Satisfaction of Mortgage
A Satisfaction of Mortgage is a document acquired from a lender that recognizes the mortgage as “paid in full” and returns a clear title to the real estate owner.
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Frequently Asked Questions
In most cases, notary publics in the United States can work with documents authorized in any state. However, you should still contact the County Clerk’s office where your property is located. They’ll be able to confirm whether it’s possible to have the document notarized in another state.
The deed of reconveyance and Satisfaction of Mortgage essentially serve the same purpose. Both documents transfer property titles to the borrower upon acknowledgment that the borrower has paid off the debt in full. The only difference is that a Satisfaction of Mortgage relies on the information in the mortgage agreement, as opposed to a deed of reconveyance and a deed of trust.
If the mortgagee fails to provide a Satisfaction of Mortgage, it can be penalized in accordance with the relevant statute. Since the lien is unreleased, the borrower or property owner won’t be able to do with the property as they see fit. If this comes to pass, the borrower can remind the lender to officially release the lien through a written Demand for Satisfaction of Mortgage, assuming that the mortgage is indeed paid off.
The blank header is a holder for the county recorder’s stamp that contains the appropriate filing number and other details necessary to registering the record. It’s not to be tampered with in any way.
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