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.
Louisiana Complaint to Compel Mortgagee to Execute and Record Satisfaction and Discharge of Mortgage
State:
Multi-State
Control #:
US-02785BG
Format:
Word;
Rich Text
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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
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.
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.
Satisfactions Generally: Once a mortgage or deed of trust is paid, the holder of the mortgage is required to satisfy the mortgage or deed of trust of record to show that the mortgage or deed of trust is no longer a lien on the property.
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.
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.
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.