Oregon Satisfaction of Mortgage by a Corporation

State:
Multi-State
Control #:
US-01498BG
Format:
Word; 
Rich Text
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.

Free preview
  • Preview Satisfaction of Mortgage by a Corporation
  • Preview Satisfaction of Mortgage by a Corporation
  • Preview Satisfaction of Mortgage by a Corporation

How to fill out Satisfaction Of Mortgage By A Corporation?

If you want to full, download, or printing authorized record themes, use US Legal Forms, the greatest collection of authorized forms, which can be found on the web. Make use of the site`s basic and hassle-free research to obtain the documents you want. Different themes for company and person uses are sorted by categories and states, or search phrases. Use US Legal Forms to obtain the Oregon Satisfaction of Mortgage by a Corporation within a number of click throughs.

If you are presently a US Legal Forms consumer, log in for your profile and click on the Down load key to have the Oregon Satisfaction of Mortgage by a Corporation. Also you can gain access to forms you formerly downloaded within the My Forms tab of your profile.

If you work with US Legal Forms for the first time, follow the instructions under:

  • Step 1. Be sure you have selected the form for that right area/country.
  • Step 2. Utilize the Preview solution to check out the form`s information. Never forget about to see the outline.
  • Step 3. If you are not satisfied with the type, make use of the Research industry near the top of the screen to discover other models of your authorized type format.
  • Step 4. Once you have located the form you want, click the Buy now key. Opt for the rates program you favor and put your qualifications to sign up on an profile.
  • Step 5. Method the financial transaction. You can utilize your credit card or PayPal profile to accomplish the financial transaction.
  • Step 6. Pick the file format of your authorized type and download it on the product.
  • Step 7. Full, change and printing or indication the Oregon Satisfaction of Mortgage by a Corporation.

Every single authorized record format you buy is the one you have forever. You may have acces to every single type you downloaded in your acccount. Click on the My Forms area and select a type to printing or download once more.

Remain competitive and download, and printing the Oregon Satisfaction of Mortgage by a Corporation with US Legal Forms. There are thousands of specialist and condition-specific forms you may use for the company or person needs.

Form popularity

FAQ

The Division of Financial Regulation has regulatory authority over mortgage brokers, lenders, independent processor contractors, and mortgage loan originators conducting business in Oregon. Mortgage brokers and lenders are required to obtain a license as a mortgage lender in Oregon.

The general rule is that the satisfaction must be in proper written format and recorded to provide notice of the satisfaction. If the lender fails to record a satisfaction within set time limits, the lender may be responsible for damages set by statute for failure to timely cancel the lien.

A satisfaction of mortgage is a document that proves the borrower has paid off the mortgage in full, freeing the loan's lien on the property and giving the title to the borrower.

Satisfaction of Mortgage Timeline However, it generally takes around 30 days and most states give lenders fewer than 90 days to complete the document. The first step requires a written acknowledgment. Your lender will need to document that you made your final payment, completing your repayment period.

(3) If the mortgage lender does not satisfy the net worth requirements within 120 days, the license of the mortgage lender shall be deemed to be relinquished and canceled and all servicing contracts shall be disposed of in a timely manner by the mortgage lender.

Sample Satisfaction of Mortgage That Mortgagee hereby acknowledges full payment and satisfaction of the Mortgage, does hereby surrender the Mortgage as cancelled, releases the property from the lien of the Mortgage, and directs the Clerk of the Circuit Court in and for , to cancel the same record.

A satisfaction of mortgage is a document that proves the borrower has paid off the mortgage in full, freeing the loan's lien on the property and giving the title to the borrower.

Suppose a mortgage lender fails to record a Satisfaction of Mortgage document within 60 days from the final payment date. In that case, you can file a lawsuit against the mortgagee. Contact a local law firm to speak with an intake specialist about your legal options.

Trusted and secure by over 3 million people of the world’s leading companies

Oregon Satisfaction of Mortgage by a Corporation