This form is for the satisfaction or release of a deed of trust for the state of South Dakota by an Individual. This form complies with all state statutory laws and requires signing in front of a notary public. The described real estate is therefore released from the mortgage.
South Dakota Release Of Mortgage Form Form
State:
South Dakota
Control #:
SD-S123-Z
Format:
Word;
Rich Text
Instant download
Description
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How to fill out South Dakota Release Of Mortgage By Lender - Individual Lender Or Holder?
How to locate professional legal documents that comply with your state's regulations and prepare the South Dakota Release Of Mortgage Form without consulting an attorney.
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Satisfaction of mortgage vs.Both a satisfaction of mortgage and deed of reconveyance indicate that the loan has been fully paid and the lien on the property has been released. A deed of reconveyance, however, is typically used in states where a deed of trust is also utilized.
If you have cleared a debt, a mortgage satisfaction document will give you clear title to real property. In other words, mortgage satisfaction is a document that results in release or discharge of a mortgage lien, and indicates that a borrower has cleared his/her debt.
Releasing a mortgage lien often involves two or three signatures. Depending on your state, the person who's given the mortgage, the borrower, and the lender may be required to sign the release. In many states, a notary public signature and, possibly, a seal, is also needed to have a legal release of lien.
A Satisfaction of Mortgage, sometimes called a release of mortgage, is a document that acknowledges that the terms of a Mortgage Agreement have been satisfied, meaning that a borrower has repaid their mortgage loan to the lender.
In addition the following information should be included:The Payee Name.The Owner(s) of the mortgage holder.Total amount of mortgage.Mortgage date of execution.Full and legal description of the property to include tax parcel number.Acknowledgement that all payments have been made in full.More items...?
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