Release Of Deed Of Trust Form With 2 Points

Category:

Real Estate - Mortgages and Deeds of Trust

State:

Mississippi

Control #:

MS-S123-Z

Format:

Instant download

Upgrade to a Package! Burning your Mortgage? Satisfaction & Release Pack. Go to Package

Description

The Release of Deed of Trust form serves to officially acknowledge the satisfaction of a deed of trust, thereby releasing the associated property from any claims. Key features include a structured section for detailing the mortgage parties involved—namely the mortgagor, trustee, and beneficiary—as well as spaces for necessary legal descriptions and notary acknowledgments. This form is crucial for individuals or entities looking to confirm that a loan secured by real estate has been paid off, promoting clarity in property ownership rights. Filling out the form requires careful completion of all fields, including the names and addresses of stakeholders, date of the original deed, and the details of the promissory note. Users should ensure that a notary public is present for the signature verification, adding an extra layer of authenticity. Attorneys, partners, and legal assistants can utilize this form in real estate transactions, while paralegals may assist in drafting and filing it as part of post-loan documentation. Owners can ensure their financial obligations are met and that their property title is cleared, making this form vital for maintaining proper legal and financial standings.

Estate executor release form for corporation

View this form

Satisfaction code assignment for students

View this form

Letter mortgage form sample for bank

View this form

Return to Work Interview Form

View this form

Waiver of Right to Election by Spouse

View this form

Order on Motion for Default

View this form

A02 Petition For Modification of Custody

View this form

California Standby Temporary Guardian Lega...

View this form

Georgia Contractors Forms Package

View this form

A10 Motion for Summary Judgment

View this form

Mississippi Foundation Contractor Package

View this form

A15 Defendant's Motion to Amend Answer and...

View this form

How to fill out Mississippi Satisfaction, Release Or Cancellation Of Deed Of Trust By Individual?

Finding a go-to place to take the most current and relevant legal templates is half the struggle of dealing with bureaucracy. Finding the right legal papers calls for accuracy and attention to detail, which is the reason it is important to take samples of Release Of Deed Of Trust Form With 2 Points only from reputable sources, like US Legal Forms. A wrong template will waste your time and delay the situation you are in. With US Legal Forms, you have very little to worry about. You may access and view all the details concerning the document’s use and relevance for the situation and in your state or region.

Take the listed steps to complete your Release Of Deed Of Trust Form With 2 Points:

Make use of the catalog navigation or search field to find your sample.
View the form’s description to check if it fits the requirements of your state and area.
View the form preview, if there is one, to ensure the form is definitely the one you are searching for.
Go back to the search and locate the correct document if the Release Of Deed Of Trust Form With 2 Points does not suit your requirements.
When you are positive regarding the form’s relevance, download it.
If you are a registered user, click Log in to authenticate and gain access to your selected forms in My Forms.
If you do not have a profile yet, click Buy now to get the form.
Select the pricing plan that fits your preferences.
Proceed to the registration to complete your purchase.
Complete your purchase by picking a payment method (credit card or PayPal).
Select the file format for downloading Release Of Deed Of Trust Form With 2 Points.
When you have the form on your device, you can alter it with the editor or print it and finish it manually.

Get rid of the inconvenience that accompanies your legal paperwork. Explore the extensive US Legal Forms catalog where you can find legal templates, check their relevance to your situation, and download them on the spot.

Form popularity

FAQ

This Deed of Trust (the ?Trust Deed?) sets out the terms and conditions upon which: [Settlor Name] (the ?Settlor?), of [Settlor Address], settles that property set out in Schedule A (the ?Property?) upon [Trustee Name] (the ?Trustee?), being a Company duly registered under the laws of [state] with registered number [ ...

A Release of Deed of Trust is a written request by the mortgage company or lender, their agent or attorney or a title insurance company to the Public Trustee. The purpose of the release is to remove all or a portion of the property from the lien created by a Deed of Trust.

A simple example would be the situation in which one member of a family advances money to another and asks the second member to hold the money or to invest it for him. A more complicated example of an implied trust would be the situation in which one party provides money to another for the purchase of property.

Trusted and secure by over 3 million people of the world’s leading companies

Satisfaction, Release or Cancellation of Deed of Trust by Individual

Assignments Generally: Lenders, or holders of mortgages or deeds of trust, often assign mortgages or deeds of trust to other lenders, or third parties. When this is done the assignee (person who received the assignment) steps into the place of the original lender or assignor. To effectuate an assignment, the general rules is that the assignment must be in proper written format and recorded to provide notice of the assignment.

Satisfactions Generally: 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. 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 by statute for failure to timely cancel the lien. 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.

Mississippi Law

Assignment: Assignments in whole or in part of any indebtedness secured by mortgage, deed of trust, or other lien of record, shall be entered on the margin of the record of the lien or said assignment shall be acknowledged and filed for record.

Demand to Satisfy: Upon full payoff, borrower may make written demand upon the lender to satisfy the deed of trust, whereupon lender has one month to do so or face liability.

Recording Satisfaction: Any mortgagee or cestui que trust, having received full payment of money due, shall enter satisfaction upon the margin of the record of the mortgage or deed of trust, which entry shall be attested by the clerk of the chancery court and discharge and release the same.

Marginal Satisfaction: Having received full payment of the money due by the deed of trust, lender shall enter satisfaction upon the margin of the record of the deed of trust, which entry shall be attested by the clerk of the chancery court and discharge and release the same.

Penalty: If not satisfied of record within 1 month of written request, penalty of $200 and liability for other damages.

Acknowledgment: An assignment or satisfaction must contain a proper Mississippi acknowledgment, or other acknowledgment approved by Statute.

Mississippi Statutes

89-5-17. Assignments of indebtedness to be marked on record

Except as provided in Section 89-5-37, all assignments in whole or in part of any indebtedness secured by mortgage, deed of trust, or other lien of record, shall be entered on the margin of the record of the lien or said assignment shall be acknowledged and filed for record, and if the assignor or assignee of said indebtedness fail to comply with the provisions of this section the debtor shall be fully protected in transactions with the holder of record in the absence of actual notice of the assignment.

89-5-21. Entry of satisfaction upon record of mortgage or deed of trust

(1) Except as otherwise provided in subsections (3), (4) and (5), any mortgagee or cestui que trust, or assignee of any mortgagee or cestui que trust, of real or personal estate, having received full payment of the money due by the mortgage or deed of trust, shall enter satisfaction upon the margin of the record of the mortgage or deed of trust, which entry shall be attested by the clerk of the chancery court and discharge and release the same, and shall bar all actions or suits brought thereon, and the title shall thereby revest in the grantor.
(2) Any such mortgagee or cestui que trust, or such assignee, by himself or his attorney, who does not, after payment of all sums owed, within one (1) month after written request, cancel on the record the mortgage or deed of trust shall forfeit the sum of Two Hundred Dollars ($ 200.00), which can be recovered by suit on part of the party aggrieved, and if after request, he fails or refuses to make such acknowledgment of satisfaction, the person so neglecting or refusing shall forfeit and pay to the party aggrieved any sum not exceeding the mortgage money, to be recovered by action; but such entry of satisfaction may be made by anyone authorized to do it by the written authorization of the mortgagee or beneficiary, duly acknowledged and recorded, and shall have the same effect as if done by the mortgagee or beneficiary.
(3) With respect to a mortgage or deed of trust which states on its face that it secures a line of credit, satisfaction of record shall be accomplished and extinguishment shall occur as provided in subsection (5).
(4) As used in this section, the term "line of credit" means any loan, extension of credit or financing arrangement where the lender has agreed to make additional or future advances.
(5) Any mortgagee or cestui que trust, or the assignee of a mortgagee or cestui que trust, under a mortgage or deed of trust securing a line of credit shall, upon (a) the termination or maturity of the line of credit and the payment of all sums owing in connection with the line of credit, or (b) the payment of all sums owing in connection with the line of credit and a written request by the debtor to cancel the line of credit and the mortgage or deed of trust securing the line of credit, enter satisfaction upon the margin of the record of the mortgage or deed of trust, which entry shall be attested by the clerk of the chancery court and discharge and release the same, and shall bar all actions or suits brought thereon, and the title shall thereby revest in the grantor. For the purpose of this subsection (5), the requirement of a written request by the debtor may be satisfied by a prospective creditor's delivery of a document, signed by the debtor, requesting cancellation of the line of credit and the mortgage or deed of trust securing the line of credit.

89-5-29. Mortgages and deeds of trust on land; how recorded

Except as hereinafter provided, all mortgages and deeds of trust upon land given to secure the payment of money, and all instruments of writing whereby a trustee is substituted under any such deed of trust, and all instruments of writing canceling or satisfaction of any such mortgage or deed of trust, shall be recorded separately from other instruments relating to land or records, and such records shall be called “records of mortgages and deeds of trust on land.

Satisfaction, Release or Cancellation of Deed of Trust by Individual

Mississippi Law

Demand to Satisfy: Upon full payoff, borrower may make written demand upon the lender to satisfy the deed of trust, whereupon lender has one month to do so or face liability.

Penalty: If not satisfied of record within 1 month of written request, penalty of $200 and liability for other damages.

Acknowledgment: An assignment or satisfaction must contain a proper Mississippi acknowledgment, or other acknowledgment approved by Statute.

Mississippi Statutes

89-5-17. Assignments of indebtedness to be marked on record

89-5-21. Entry of satisfaction upon record of mortgage or deed of trust

89-5-29. Mortgages and deeds of trust on land; how recorded

Release Of Deed Of Trust Form With 2 Points

Description

Related forms

Viewed forms

How to fill out Mississippi Satisfaction, Release Or Cancellation Of Deed Of Trust By Individual?

Form popularity

FAQ

How do you write a Trust Deed?

What does a release of deed of trust mean?

What is an example of a trust?

What is an example of a Trust?

What is a simple example of a trust?

Trusted and secure by over 3 million people of the world’s leading companies

Release Of Deed Of Trust Form With 2 Points

Description

Related forms

Viewed forms

How to fill out Mississippi Satisfaction, Release Or Cancellation Of Deed Of Trust By Individual?

Form popularity

FAQ

How do you write a Trust Deed?

What does a release of deed of trust mean?

What is an example of a trust?

What is an example of a Trust?

What is a simple example of a trust?

Release Of Deed Of Trust Form With 2 Points Related Searches

Trusted and secure by over 3 million people of the world’s leading companies