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.
Georgia Complaint to Compel Mortgagee to Execute and Record Satisfaction and Discharge of Mortgage
State:
Multi-State
Control #:
US-02785BG
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Word;
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How to fill out Complaint To Compel Mortgagee To Execute And Record Satisfaction And Discharge Of Mortgage?
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FAQ
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.
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.
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.
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.
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.
If Mortgagee fails to satisfy of record, he is liable for damages, including attorney fees, if 20 days written notice is given by Mortgagor prior to suit. Acknowledgment: An assignment or satisfaction must contain a proper New Jersey acknowledgment, or other acknowledgment approved by Statute.
No bond for title or to reconvey shall be necessary where the deed shows upon its face that it is given to secure a debt.
A satisfaction of mortgage is an official document that is recorded in county public records to release a lender's lien from a property after a mortgage has been paid off.