Colorado Personal Representative Without A Will
Description
How to fill out Colorado Deed Of Distribution - Personal Representative To Two Individuals?
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FAQ
When a real estate loan is satisfied, the lender executes a Request for Release of Deed of Trust with the Public Trustee for the county in which the property is located. The Public Trustee makes sure that the release is accurate and complete, executes the release, and records it with the County Clerk and Recorder.
When a mortgage is fully paid off, a Satisfaction of Mortgage document is the legal proof that the mortgage is finished and the title is clear of liens. When a mortgage is fully paid off, a Satisfaction of Mortgage document is the legal proof that the mortgage is finished and the title is clear of liens.
CIVIL PRACTICE LAW AND RULES, §§8017, 8021; SOCIAL SERVICES LAW, §106-a: A county clerk is entitled to a fee for recording a satisfaction of mortgage where the county department of social services is the mortgagee but the satisfaction of the mortgage is presented for recording by the mortgagor.
A mortgage note is a legal document that sets out all the terms of the mortgage between a borrower and their lending institution. It includes terms such as: The total amount of the home loan. The down payment amount. Whether monthly or bimonthly payments are required.
A deed of reconveyance is a document that transfers the title of a property to the borrower from the bank or mortgage holder once a mortgage has been satisfied. It clears the lender from the title to the property.
The general rule is that the satisfaction must be in proper written format and recorded to provide notice of the satisfaction. If the lender fails to record a satisfaction within set time limits, the lender may be responsible for damages set out by statute for failure to timely cancel the lien.
The promissory note describes the loan terms, including the interest rate and repayment schedule. The legal implications. The mortgage gives the lender the right to foreclose if the borrower defaults, whereas the promissory note creates a personal obligation for the borrower to pay the debt.
A Certificate of Satisfaction You'll receive your deed and officially be the sole owner of your home. Note that some lenders may send the certificate of satisfaction directly to you. If this happens, you'll need to file it with your local government yourself.