North Dakota Partial Release of Mortgage / Deed of Trust Lien on Leasehold Interest in Part of Lands Subject to Mortgage / Deed of Trust

State:
Multi-State
Control #:
US-OG-551
Format:
Word; 
Rich Text
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Description

This form provides for a partial release of a mortgage/deed of trust on leasehold interests.

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How to fill out Partial Release Of Mortgage / Deed Of Trust Lien On Leasehold Interest In Part Of Lands Subject To Mortgage / Deed Of Trust?

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FAQ

47-19-19. The record of any instrument shall be notice of the contents of the instrument, as it appears of record, as to all persons.

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

Race ? whoever records first will prevail. Notice ? a subsequent bona fide purchaser who lacks notice of an earlier interest will prevail. Race-notice ? a subsequent bona fide purchaser who lacks notice of an earlier interest AND records first will prevail.

North Dakota is a one-party consent state, which means that a party to a telephonic or electronic conversation can record the conversation. This type of situation usually comes up in a criminal case if a person records a telephone conversation to catch another person in a lie, admission, or confession.

Focusing on this geographical region, the Deed of Trust is the preferred or required security instrument for real property in the following states: Maryland, North Carolina, Tennessee, Virginia and West Virginia. Mortgages are used in Kentucky, Ohio and Pennsylvania.

Texas has adopted a type of recording system known as ?race-notice.? ?Race? refers to the competing bona fide pur- chaser who first records the deed in the correct county. ?Notice? refers to what the buyer knew or could have known at the time of closing about another's claim to the property.

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.

Currently, Alaska, Arkansas, California, Colorado, District of Columbia, Georgia, Hawaii, Idaho, Indiana, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Montana, Nebraska, Nevada, New Jersey, New York, North Dakota, Ohio (regarding mortgages, Ohio follows the race statute), Oregon, ...

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North Dakota Partial Release of Mortgage / Deed of Trust Lien on Leasehold Interest in Part of Lands Subject to Mortgage / Deed of Trust