US Legal Forms
Georgia Satisfaction of Security Deed

Satisfaction Of Security Deed Form North Carolina

Category:

Loans and Lending

State:

Georgia

Control #:

GA-LR109T

Format:

Instant download

Description

The Satisfaction of Security Deed Form for North Carolina is a legal document used to acknowledge that a debt secured by a security deed has been paid in full. This form allows the original holder of the security deed to formally cancel the deed on public record, which helps to clear the title for the property. Key features of the form include spaces for critical information such as loan number, MIN number, names of the parties involved, principal amount, and dates of execution. There are also designated areas for signatures from representatives of the lending institution and a notary public for authentication. Filling out the form requires careful attention to detail, ensuring all required information is completed accurately. It is important for users to retain copies of the completed documents for their records. Common use cases for this form include attorneys managing real estate transactions, partners in financial institutions, property owners settling debts, and paralegals assisting in legal document preparation. Legal assistants find this form useful for maintaining clear records in property ownership cases, making it a valuable resource in the real estate and legal sectors.

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FAQ

This document may be called the Security Instrument, Deed of Trust, or Mortgage. When you sign this document, you are giving the lender the right to take your property by foreclosure if you fail to pay your mortgage ing to the terms you've agreed to.

A Satisfaction of Mortgage and a Deed of Reconveyance are essentially the same thing.

An individual whose credit is used in qualifying for the loan must sign the note. An individual whose credit was not used in qualifying for the loan, but who does have an ownership interest in the property must be named in and sign the security instrument, but is not required to sign the note.

A deed of trust is satisfied when the debt it secures is paid or when the obligation it secures is fulfilled. A deed of trust is no longer a lien on the property if the debt or obligation it secures has been satisfied but it will remain a cloud on title until removed from the chain of title.

A Satisfaction of Security Instrument is a document that shows an individual has paid a deed of trust or a mortgage in full. A Security Instrument is a document that creates an interest in real property.