New York Ancient Mortgage Affidavit
What is this form?
The Ancient Mortgage Affidavit is a legal document used to affirm that a mortgage, which has been satisfied, has not been formally canceled off the public record. This affidavit is essential for obtaining clear title by reassuring title insurance companies that the mortgage obligation is no longer active, thereby facilitating smoother property transactions.
Main sections of this form
- Description of the premises involved in the mortgage.
- Identification of the affiant (the person making the affidavit).
- Details of the mortgage, including recording date and location.
- Statement of non-activity regarding payments on the mortgage for the last six years.
- Signature of the affiant and a notary public for verification.
When to use this form
This form should be used when you need to confirm that an existing mortgage has been satisfied but not officially removed from the records. It is particularly relevant in situations where you are selling a property, refinancing, or seeking title insurance. By providing this affidavit, you can help ensure that all parties are aware of the mortgage status, which can prevent potential legal disputes in the future.
Intended users of this form
- Property sellers looking to clarify the status of a past mortgage.
- Buyers who require assurance about the property's title before purchase.
- Real estate agents managing property transactions involving old mortgages.
- Title insurance companies needing verification of mortgage satisfaction.
Steps to complete this form
- Identify and describe the property involved in the mortgage accurately.
- Fill in the name of the affiant, who must be the grantor of the deed.
- Provide details of the original mortgage, including date, county, and recording information.
- State the last payment date or confirm no payments have been made for six years.
- Sign the affidavit in front of a notary public to make it legally valid.
Does this form need to be notarized?
This form needs to be notarized to ensure legal validity. US Legal Forms provides secure online notarization powered by Notarize, allowing you to complete the process through a verified video call, available anytime.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Typical mistakes to avoid
- Failing to accurately describe the premises involved in the mortgage.
- Omitting necessary details about the mortgage or the title company.
- Not notarizing the affidavit, which may invalidate the document.
- Providing incorrect dates which can lead to legal complications.
Benefits of completing this form online
- Convenience of downloading and completing the form at your own pace.
- Access to templates created by licensed attorneys to ensure accuracy.
- Editability allows you to input specific details pertinent to your situation.
- Reliable access to up-to-date legal forms tailored to your state.
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FAQ
The discharge of a mortgage means that the borrower no longer is obligated to make further payments on the loan. A discharge can be the result of the mortgage being paid in full or refinanced by the borrower. A mortgage also can be discharged if the borrower files for bankruptcy.
In order to clear the title to the real property owned by the mortgagor, the Satisfaction of Mortgage document must be recorded with the County Recorder or Recorder of Deeds. If the mortgagee fails to record a satisfaction within the set time limits, the mortgagee may be responsible for damages set out by statute.
In the sentence, the person writing the statement must state that he or she is stating that the information is accurate. (Example: I, Jane Doe, solemnly swear that the contents of this document are true and correct, and that I agree to abide by the terms in this affidavit.)
A mortgage held of record by other than an institutional lender in the face amount of $25,000 or less which contains no stated maturity date, which has been recorded for more than 30 years, and which is not recited in the chain of title for 12 years or more, may be disregarded upon an affidavit there has been no
That the undersigned has not made or caused to be made any payments under the terms of the Mortgage to the holder of the Mortgage or its designee, if any, within the last six (6) years.
A mortgage affidavit is a written statement signed by a party in a real estate transaction under penalties of perjury that attests to certain conditions of the property.
