District of Columbia Partial Release or Satisfaction of Mortgage by a Corporation

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Multi-State
Control #:
US-01499BG
Format:
Word; 
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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

You Release a Mortgage or Charge when the property charged has been released from the charge or no longer forms part of the company's property. You Satisfy a Mortgage or Charge when the debt of the charge has been paid or satisfied in full or part.

What is a Satisfaction of Mortgage? 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.

Primary tabs. 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.

A mortgage discharge is a signed document from the lender indicating that the mortgage contract has been fulfilled. Discharging the mortgage ends the lender's legal claim to your property.

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. As a result, it also certifies that the property's title is clear of any liens.

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.

The Satisfaction of Mortgage Documentation Process If sold, the owner of the mortgage at the time of the final payment is responsible for completing the satisfaction of mortgage documentation.

How do you get a Satisfaction of Mortgage? A Satisfaction of Mortgage is issued by the lender after they have received the final mortgage payment from the borrower. It's signed by the mortgagee (in the presence of a witness in some states and counties) and then notarized by a registered notary public.

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District of Columbia Partial Release or Satisfaction of Mortgage by a Corporation