Colorado Partial Release or Satisfaction of Mortgage by a Corporation

State:
Multi-State
Control #:
US-01499BG
Format:
Word; 
Rich Text
Instant download

Description

Most states have statutes that provide that a mortgage or deed of trust may be partially discharged or released 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.


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.

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FAQ

When a real estate loan is satisfied, the lender executes a Request for Release of Deed of Trust with the Public Trustee for the county in which the property is located. The Public Trustee makes sure that the release is accurate and complete, executes the release, and records it with the County Clerk and Recorder.

What Is A Deed Of Trust? A deed of trust is an agreement between a home buyer and a lender at the closing of a property. The agreement states that the home buyer will repay the home loan and the mortgage lender will hold the property's legal title until the loan is paid in full.

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.

DEED OF TRUST - In Colorado, a mortgage is generally called a Deed of Trust, and that document is signed and recorded at the time the property is purchased and financed. It is an arrangement between three parties: The borrower (grantor), the lender (beneficiary), and an impartial trustee.

Deeds of trust are the most common instrument used in the financing of real estate purchases in Alaska, Arizona, California, Colorado, the District of Columbia, Idaho, Maryland, Mississippi, Missouri, Montana, Nebraska, Nevada, North Carolina, Oregon, Tennessee, Texas, Utah, Virginia, Washington, and West Virginia, ...

A Release of Deed of Trust is a document signed and executed by the current beneficiary of a Deed of Trust. The release form is submitted to the Public Trustee's Office in the county in which the property is located.

A deed of trust is a legal agreement that's similar to a mortgage, which is used in real estate transactions. Whereas a mortgage only involves the lender and a borrower, a deed of trust adds a neutral third party that holds rights to the real estate until the loan is paid or the borrower defaults.

Now, instead of dirt, legal documents called deeds are used to convey the title of real property from one person or entity to another. Colorado recognizes several different types of deeds, which are used depending on what rights the seller can convey and the warranties that are included in the deed.

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Colorado Partial Release or Satisfaction of Mortgage by a Corporation