Employment Termination Benefits
Description
How to fill out Termination Meeting Checklist?
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Recording Fee ? Documents up to and including 50 pages ? $36.00 per document. Recording Fee ? Documents 51 pages or more ? $101.00 per document.
If the satisfaction isn't recorded within a minimum of 60 days, they may incur penalties and be held liable for damages and attorney's fees.
A deed of release is a legal document that removes a previous claim on an asset. It provides documentation of release from a binding agreement. A deed of release might be included when a lender transfers the title of real estate to the homeowner upon satisfaction of the mortgage.
A deed of reconveyance, also known as a satisfaction of mortgage, is a document that proves you've paid off your mortgage. The deed of reconveyance releases the lien the mortgage lender placed on your property. You'll need this document to prove a clear title when you sell your home.
A satisfaction of mortgage, also known as release, cancellation or discharge of mortgage, is a type of legal document that proves you paid your mortgage in full.
Key Takeaways A satisfaction of mortgage is a signed document confirming that the borrower has paid off the mortgage in full and that the mortgage is no longer a lien on the property.
Mortgage deeds are legal documents or instruments that pass over a property's legal rights to the loan provider, which they can exercise in case of a loan default. This document gives lenders the property rights to sell the foreclosed property and recoup their defaulted loan amount to protect their interest.
