Florida Complaint to Compel Mortgagee to Execute and Record Satisfaction and Discharge of Mortgage

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US-02785BG
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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.

In Florida, a Complaint to Compel Mortgagee to Execute and Record Satisfaction and Discharge of Mortgage is a legal document used to request a court order compelling a mortgagee (lender) to fulfill their obligations to execute and record satisfaction and discharge of a mortgage. This type of complaint arises when a mortgagee fails to properly release the mortgage upon the borrower's full repayment of the loan. Keywords: Florida, Complaint, Compel, Mortgagee, Execute, Record, Satisfaction, Discharge, Mortgage There may be different types of Florida Complaint to Compel Mortgagee to Execute and Record Satisfaction and Discharge of Mortgage, depending on the nature of the dispute or specific circumstances. Some potential variations may include: 1. Residential Property Mortgage Discharge Complaint: This type of complaint is filed when a residential property owner has fully repaid their mortgage, but the mortgagee fails to execute and record the satisfaction and discharge of the mortgage. 2. Commercial Property Mortgage Release Complaint: Business owners or commercial property owners may file this type of complaint when the mortgagee refuses or neglects to properly release the mortgage despite the loan being paid off in full. 3. Foreclosure Prevention Mortgage Discharge Complaint: In cases where a borrower is facing foreclosure, but they have successfully fulfilled the terms of their loan agreement, a complaint of this nature may be filed to compel the mortgagee to execute and record the satisfaction and discharge of the mortgage, potentially allowing the borrower to avoid foreclosure. 4. Multiple Mortgage Discharge Complaint: If a borrower has multiple mortgages on a property and has paid off one or more of them, but the mortgagee(s) refuse to release those mortgages, a complaint can be filed to compel the release and discharge, providing evidence of the fulfilled obligations. It is important to consult with an attorney or legal professional experienced in real estate law and mortgage disputes to ensure the correct type of complaint is filed and to navigate the legal process effectively.

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Section 701.04 - Cancellation of mortgages, liens, and judgments (1) (a) Within 10 days after receipt of the written request of a mortgagor, a record title owner of the property, a fiduciary or trustee lawfully acting on behalf of a record title owner, or any other person lawfully authorized to act on behalf of a ...

If your lender fails to execute and record a satisfaction of mortgage within the mandated 60-day period, you can file a lawsuit that seeks a court order that either: Directs the lender to execute a satisfaction of mortgage. Extinguishes the lien against the property.

The law on mortgage satisfactions is outlined in Florida Statute 701.04. The lender must comply with this law within a specific time period ? typically 60 days from the date of the last or full payment. The lender must prepare the mortgage satisfaction.

There are multiple steps to obtain a satisfaction of mortgage. The length of the overall process varies from state to state due to local laws. However, it generally takes around 30 days and most states give lenders fewer than 90 days to complete the document.

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.

The lender has a legal obligation to draft, notarize, and file a Florida Satisfaction of Mortgage. While the final payment satisfies the borrower's debt, it does not automatically clear the property title of the lien since the lien is a part of the public record.

Florida Law states that the execution of the satisfaction must be signed by the lender. Upon the full payment of the mortgage, the borrower may demand of the lender that satisfaction be recorded. The lender then has 60 days to comply, or face liability.

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Jan 4, 2022 — The two Florida real estate statutory requirements a lender must follow to cancel mortgages, liens, and judgments are: Written acknowledgment. May 9, 2018 — Chapter 183, Section 55 requires the lender to discharge the mortgage within 45 days of receipt of full payment of the loan by (i) recording an ...Go over the document's preview and description (if available) to get a general idea of what you'll get after downloading the document. Ensure that the template ... (b) The recorded release of the mortgage does not relieve the mortgagor ... the mortgagee or mortgage servicer to file a satisfaction or release of the mortgage. The notice requirements of this subsection are satisfied if the unit owner records a notice of contest of lien as provided in subsection (5). The notice ... The estoppel letter may include the itemization of information required under paragraph (a), but must at a minimum include the total unpaid balance due under or ... The institution must retain these records until one year after the loan is discharged or the institution transfers servicing for the mortgage loan to a ... Dec 9, 2002 — 1) If, within 60 days of the mortgagee's receipt of the notice of intent to record satisfaction issued by a settlement officer in accordance ... Your mortgage company should provide our office with a Satisfaction of Mortgage to be recorded in the Official Records of Orange County, Florida. ... a NFTL filed before the lender records. Equitable ... lender acquires equitable title when an unrecorded mortgage or deed of trust is executed.

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Florida Complaint to Compel Mortgagee to Execute and Record Satisfaction and Discharge of Mortgage