Mesa Arizona Full Reconveyance and Deed of Release - Satisfaction, Release or Cancellation of Deed of Trust by Individual

State:
Arizona
City:
Mesa
Control #:
AZ-S123-Z
Format:
Word; 
Rich Text
Instant download

Description

This form is for the satisfaction or release of a mortgage for the state of Arizona 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.

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FAQ

The deed of reconveyance is completed and signed by the lender and filed with the local recording office, such as the county courthouse.

A satisfaction is a document showing proof that you have paid a deed of trust (instrument that secures the repayment of a sum of money or the performance of other conditions) or other security instrument in full.

Question: In Arizona, a deed of trust can be used as well as a mortgage to secure a loan on a home. Other states use only mortgages. Why does Arizona also have deeds of trust? Since 1971 Arizona has had both mortgages and deeds of trust to secure loans on a home (or other real property).

A satisfaction of mortgage is a document serving as evidence that you've paid off your mortgage in full, releasing the lien associated with the loan from your property and transferring the title to you. This document typically includes: Borrower and lender contact information. Loan and property information.

A deed of reconveyance is a legal document that indicates the transfer of a property's title from lender to borrower. The deed of reconveyance is typically issued after the borrower has paid off their mortgage in full. Some states do not use mortgages but use deeds of trust.

Reconveyance means the return of title to the original owner. Most commonly arises in the context of reconveyance of real estate deeds?also referred to as deed of reconveyance.

A satisfaction of mortgage is a document serving as evidence that you've paid off your mortgage in full, releasing the lien associated with the loan from your property and transferring the title to you. This document typically includes: Borrower and lender contact information.

Under a Deed of Trust, there are generally three parties the borrower, the lender and the Trustee, who holds title to the lien for the benefit of the lender and whose sole function is to initiate and complete the foreclosure process at the request of the lender.

A Satisfaction of Mortgage and a Deed of Reconveyance are essentially the same thing.

A deed of reconveyance refers to a document that transfers the title of a property to the borrower from the bank or mortgage holder once a mortgage is paid off. It is used to clear the deed of trust from the title to the property.

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Mesa Arizona Full Reconveyance and Deed of Release - Satisfaction, Release or Cancellation of Deed of Trust by Individual