US Legal Forms » Real Estate Forms » Satisfaction of Mortgage

Satisfaction, Release or Cancellation
of Deed of Trust or Mortgage

This form is for the satisfaction or release of a mortgage. Download the form required by your State. Free law summaries are available for all States. Try our new Satisfaction of Mortgage Forms Package and Save!

Satisfaction, Release or Cancellation of Deed of Trust or Mortgage Information

Satisfactions Explained: Once a mortgage or deed of trust is paid, the holder of the mortgage is required to satisfy the mortgage or deed of trust of record to show that the mortgage or deed of trust is no longer a lien on the property.

Recording the Satisfaction: The general rule is that the satisfaction must be in proper written format and recorded to provide notice of the satisfaction.

Failure to Record the Satisfaction: If the lender fails to sign and/or record a satisfaction within set time limits, the lender may be responsible for damages set by statute for failure to timely cancel the lien.

Titles Vary: Depending on your state, a satisfaction may be called a Satisfaction, Cancellation, or Reconveyance. Some states still recognize marginal satisfaction but this is slowly being phased out. A marginal satisfaction is where the holder of the mortgage physically goes to the recording office and enters a satisfaction on the face of the the recorded mortgage, which is attested by the clerk.

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