Arkansas Satisfaction of Mortgage by a Corporation

State:
Multi-State
Control #:
US-01498BG
Format:
Word; 
Rich Text
Instant download

Description

Most states have statutes that provide that a mortgage or deed of trust may be discharged in the county land records by the recorder of deeds. Generally these statutes proved that a certificate must be filed with said recorder and executed by the mortgagee or on its behalf and acknowledged as prescribed by law. The certificate must specify that the mortgage has been paid or otherwise satisfied or discharged, and should make a reference to the book and page containing the original mortgage or deed of trust.


This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

Free preview
  • Preview Satisfaction of Mortgage by a Corporation
  • Preview Satisfaction of Mortgage by a Corporation
  • Preview Satisfaction of Mortgage by a Corporation

How to fill out Satisfaction Of Mortgage By A Corporation?

Discovering the right legal document template could be a battle. Naturally, there are tons of web templates available on the net, but how do you obtain the legal kind you will need? Take advantage of the US Legal Forms site. The service gives a large number of web templates, such as the Arkansas Satisfaction of Mortgage by a Corporation, that can be used for organization and private needs. All the varieties are checked by specialists and satisfy federal and state specifications.

Should you be already signed up, log in to the profile and click on the Download switch to have the Arkansas Satisfaction of Mortgage by a Corporation. Make use of profile to look from the legal varieties you have purchased formerly. Go to the My Forms tab of your own profile and obtain one more version of the document you will need.

Should you be a new consumer of US Legal Forms, here are simple guidelines for you to follow:

  • Initial, be sure you have selected the proper kind for your personal town/region. You can examine the form making use of the Preview switch and look at the form explanation to make certain this is the right one for you.
  • In case the kind fails to satisfy your preferences, make use of the Seach discipline to find the right kind.
  • When you are certain the form is proper, click on the Buy now switch to have the kind.
  • Select the prices program you desire and enter the required information. Build your profile and pay money for the order using your PayPal profile or Visa or Mastercard.
  • Select the file file format and acquire the legal document template to the device.
  • Comprehensive, edit and printing and signal the received Arkansas Satisfaction of Mortgage by a Corporation.

US Legal Forms may be the most significant library of legal varieties for which you can discover various document web templates. Take advantage of the company to acquire appropriately-produced files that follow condition specifications.

Form popularity

FAQ

A Satisfaction of Mortgage is a signed document filed with a relevant local authority that verifies a mortgage loan has been fully paid off and is no longer a lien on your title. This documentation can be helpful if you want to use your home as collateral for a new loan.

(a) If a mortgagee or his or her executor, administrator, or assignee receives full satisfaction for the amount due on any mortgage, then at the request of the person making satisfaction, the mortgagee shall acknowledge satisfaction of the amount due on the mortgage on the margin of the record in which the mortgage is ...

A satisfaction of mortgage is a document that proves the borrower has paid off the mortgage in full, freeing the loan's lien on the property and giving the title to the borrower.

Sample Satisfaction of Mortgage That Mortgagee hereby acknowledges full payment and satisfaction of the Mortgage, does hereby surrender the Mortgage as cancelled, releases the property from the lien of the Mortgage, and directs the Clerk of the Circuit Court in and for , to cancel the same record.

Within 60 days of the date of receipt of the full payment of the mortgage, lien, or judgment, the person required to acknowledge satisfaction of the mortgage, lien, or judgment shall send or cause to be sent the recorded satisfaction to the person who has made the full payment.

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.

Suppose a mortgage lender fails to record a Satisfaction of Mortgage document within 60 days from the final payment date. In that case, you can file a lawsuit against the mortgagee. Contact a local law firm to speak with an intake specialist about your legal options.

A Satisfaction of Mortgage, also known as a Mortgage Lien Release, is a legal document provided by the mortgagee (financial institution) advising that the mortgage has been paid in full, all terms of the loan have been satisfied and there will no longer be a lien on the property.

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

Arkansas Satisfaction of Mortgage by a Corporation