North Carolina statutes set out several methods with which a lien may be discharged. One of these methods allows a lien claimant to sign and acknowledge the satisfaction of the lien in the presence of a clerk of the superior court.
Raleigh North Carolina Acknowledgment of Satisfaction for Individual
Category:
State:
North Carolina
City:
Raleigh
Control #:
NC-02-09
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Word;
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FAQ
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.
A satisfaction of mortgage is a signed document confirming that the borrower has paid off the mortgage in full and that the mortgage is no longer a lien on the property.
This document may be called the Security Instrument, Deed of Trust, or Mortgage. When you sign this document, you are giving the lender the right to take your property by foreclosure if you fail to pay your mortgage according to the terms you've agreed to.
A Satisfaction of Security Instrument is a document that shows an individual has paid a deed of trust or a mortgage in full.
Both a satisfaction of mortgage and deed of reconveyance indicate that the loan has been fully paid and the lien on the property has been released. A deed of reconveyance, however, is typically used in states where a deed of trust is also utilized.
A Satisfaction of Mortgage, also known as a Mortgage Lien Release, is a legal document provided by the mortgagee (financial institution) advising that the mortgage has been paid in full, all terms of the loan have been satisfied and there will no longer be a lien on the property.
A mortgage is a loan extended to someone in order to purchase a property. A mortgage deed is a legally binding document outlining the terms of a mortgage that puts a lien on the house until the lender repays the loan in full.
What Documents Can You Expect? Canceled promissory note (?note?). A promissory note states that someone promises to pay something?in this case, a mortgage.Deed of trust or mortgage deed (?deed?).Certificate of satisfaction.Final mortgage statement.Loan payoff letter.
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.
Both a satisfaction of mortgage and deed of reconveyance indicate that the loan has been fully paid and the lien on the property has been released. A deed of reconveyance, however, is typically used in states where a deed of trust is also utilized.