Mississippi Satisfaction of Mortgage by a Corporation

Q: What are the indexing instructions in Mississippi?

The indexing instruction identifies the property&#039;s section, township and range, and one or more quarter sections or governmental lots or other applicable subdivisions. If the preparer cannot determine the property&#039;s applicable subdivision, the indexing instruction must state that the information cannot be determined.

Category:

Real Estate - Mortgages and Deeds of Trust

State:

Multi-State

Control #:

US-01498BG

Format:

Instant download

Description

Most states have statutes that provide that a mortgage or deed of trust may be discharged 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. The certificate must specify that the mortgage has been paid or otherwise satisfied or discharged, and should make a reference to the book and page containing the original mortgage or deed of trust.

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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How to fill out Satisfaction Of Mortgage By A Corporation?

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FAQ

States that follow the Race-Notice statute: Alaska, Arkansas, California, Colorado, District of Columbia, Georgia, Hawaii, Idaho, Indiana, Maryland, Michigan, Minnesota, Mississippi, Montana, Nebraska, Nevada, New Jersey, New York, North Dakota, Ohio (regarding mortgages, OH follows the Race statute), Oregon, ...

Race-Notice Statute. Under a race-notice statute, a later purchaser of an interest has the priority interest if the later purchaser is a bona fide purchaser and records the interest first in time. The bona fide purchaser cannot have constructive, actual, or inquiry notice of any other claim against the property.

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, ...

The main difference between a deed and a deed of trust is that a deed is a transfer of ownership, while a deed of trust is a security interest. A deed of trust is used to secure a loan, while a deed is used to transfer ownership of a property.

Mississippi recognizes joint tenancy with right of survivorship as a common form of joint ownership. This form allows multiple people or entities to own a title interest to the property, and comes with various rights and responsibilities.

Florida is a strictly NOTICE state. The purpose of the recording statute is that recording is NOTICE to the World.

The indexing instruction identifies the property's section, township and range, and one or more quarter sections or governmental lots or other applicable subdivisions. If the preparer cannot determine the property's applicable subdivision, the indexing instruction must state that the information cannot be determined.

Mississippi is a race-notice state meaning any conveyance of an interest in land shall not be valid against a subsequent purchaser for value, without notice thereof, whose conveyance is first recorded.