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North Carolina Certificate - Trustee's Satisfaction of Deed of Trust

State:
North Carolina
Control #:
NC-S123-Z
Format:
Word; 
Rich Text
Instant download

Description North Carolina Estate File

This form is for the satisfaction or release of a deed of trust for the state of North Carolina by an Individual. This form complies with all state statutory laws and requires signing in front of a notary public. The described real estate is therefore released from the mortgage.

How to fill out North Carolina Estate Form?

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Certificate Trustees Trust Other Form Names

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Nc Form Estate Document FAQ

The most important of these is the Satisfaction of Mortgage, sometimes referred to as a letter of satisfaction, which the lender sends to the borrower to indicate the home loan is paid in full.

A deed of trust involves three parties: the borrower, the lender, and the trustee.The trustee holds title to the property until the trustor has fully repaid the loan to the beneficiary, at which time the lender notifies the trustee, who then transfers full title of the property to the trustor.

A Satisfaction of Mortgage is used to acknowledge the same of a Mortgage agreement.In essence, the Deed of Reconveyance and Satisfaction of Mortgage both serve the same function, which is to show that the borrower has repaid the loan fully and that the lender has no further interest in the property.

Property cannot be conveyed to a grantee who does not exist. Thus, a deed to a grantee who is dead at the time of delivery is void. For example, a deed recorded by the grantor is presumed to have been delivered.For example, a deed is voidable if it was obtained by fraud in the inducement.

If a lender takes longer than 90 days to record it, they can be charged up to $1,500 in penalties. So, in theory, a satisfaction should be recorded within 30-90 days of payoff regardless of what state you work in.

You may contact us at (407) 836-5115 to request a search of your Satisfaction of Mortgage. You may also utilize our web site (www.occompt.com) to see if your Satisfaction has been recorded. Your Satisfaction is recorded under the names of the borrower/mortgagor on the original loan.

Giving the wrong legal address for the property or the wrong amount of the debt can render the deed unenforceable. In some cases, the error is easy to fix, and the court will rule the deed is enforceable.

A satisfaction of mortgage is a signed document confirming that the borrower has paid off the mortgage in full and that the mortgage is no longer a lien on the property.

A satisfaction of mortgage is a document that confirms a mortgage has been paid off and details the provisions for the transfer of collateral title rights.

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North Carolina Certificate - Trustee's Satisfaction of Deed of Trust