A North Carolina Letter to Recording Office for Recording Assignment of Mortgage is an official written request submitted to the recording office of the county where a mortgage assignment is taking place. This letter is used to initiate the process of recording the assignment of mortgage, which transfers the mortgage rights from one party (assignor) to another (assignee). Keywords: North Carolina, Letter to Recording Office, Recording Assignment of Mortgage, mortgage assignment, assignor, assignee. Types of North Carolina Letter to Recording Office for Recording Assignment of Mortgage: 1. General Assignment of Mortgage: This type of letter is used when a mortgage is being assigned from one party to another in a standard transaction. It outlines the details of the assignment, including the names of the original mortgagee, assignor, and assignee, the date of the original mortgage, and the legal description of the property. 2. Assumption and Assignment of Mortgage: In some cases, a mortgage may be assumed by a new borrower who takes over the loan and simultaneously assigns it to another party. This type of letter would include information about both the assumption of the mortgage and the subsequent assignment to another party. 3. Release and Assignment of Mortgage: When a mortgage is being released by the original mortgagee and simultaneously assigned to a new party, this type of letter would be used. It states the intent to release the original mortgage while simultaneously assigning the mortgage to a new party. 4. Consolidation and Assignment of Mortgage: This letter is used in cases where multiple mortgages are being consolidated into a single mortgage. It would outline the details of the consolidation process and the subsequent assignment to a new party. 5. Subordination and Assignment of Mortgage: In situations where a mortgage is being subordinated to another mortgage and simultaneously assigned to a new party, this type of letter would be used. It would detail the subordination agreement and the subsequent assignment to the assignee. Regardless of the type, all North Carolina Letters to Recording Office for Recording Assignment of Mortgage must comply with the specific requirements and guidelines set forth by the recording office of the respective county in North Carolina.
North Carolina Letter to Recording Office for Recording Assignment of Mortgage
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How to fill out North Carolina Letter To Recording Office For Recording Assignment Of Mortgage?
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FAQ
When a deed of trust/mortgage is paid in full, you can record a Full Reconveyance from the trustee stating publicly that the loan has been paid. The Full Reconveyance Form is completed and signed by the trustee, whose signature must be notarized.
A property owner formally transfers North Carolina real estate to a new owner by signing a deed and recording it in the register of deeds office. North Carolina law recognizes several types of deeds an owner can use to transfer property during life.
Certificate of satisfaction. Your local office of records (the county recorder, county clerk or another department depending on where you live) will record a certificate of satisfaction once you or your loan servicer provides official documentation of your loan being paid off. Expect to pay $25 to $50 for this service.
You'll Receive Mortgage Release Documents A declaration that the mortgage has been paid in full. Your promissory note for the loan amount (one of the many documents you signed at your closing), marked as canceled.
Mortgages are interests in property, and so can and should be recorded as soon as possible after the closing. Most states have recording statutes that impose restrictions on when and how a document conveying property rights can be legally created. Recording statutes are important for several purposes.
A deed of reconveyance is a legal document that indicates the transfer of a property's title from lender to borrower ? legally referred to as the trustor ? in deed of trust states. The deed of reconveyance is typically issued after the borrower has paid off their mortgage in full.
The lender must indicate to the local government that the loan has been paid in full. This typically happens through the filing of a certificate of satisfaction or deed of reconveyance, depending on the state.
By North Carolina law, deeds of trust and mortgages can be satisfied on the record with a simple instrument prepared and signed by the trustee or secured creditor with proper acknowledgment.
