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North Carolina Acknowledgment of Satisfaction for Corporation

Wake North Carolina Acknowledgment of Satisfaction for Corporation

Name: Wake North Carolina Acknowledgment of Satisfaction for Corporation
Brand: US Legal Forms
Rating: 4.69 (389 reviews)

Category:

Liens - Construction - Mechanics

State:

North Carolina

County:

Wake

Control #:

NC-02A-09

Format:

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Description

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.

Wake North Carolina Acknowledgment of Satisfaction for Corporation or LLC is a legal document used to acknowledge the satisfaction of a debt or obligation owed by a corporation or limited liability company (LLC) in Wake County, North Carolina. This document ensures that all parties involved are aware that the debt or obligation has been fulfilled, providing legal protection and ensuring transparency in business transactions. Keywords: Wake North Carolina, acknowledgment, satisfaction, corporation, limited liability company (LLC), debt, obligation, legal document, business transactions, Wake County. Types of Wake North Carolina Acknowledgment of Satisfaction for Corporation or LLC: 1. Wake North Carolina Acknowledgment of Satisfaction for Corporation: This type of acknowledgment is specifically designed for corporations based in Wake County, North Carolina. It serves as a legally binding document that confirms the satisfaction of debts or obligations by a corporation. 2. Wake North Carolina Acknowledgment of Satisfaction for LLC: This acknowledgment is tailored for limited liability companies operating in Wake County, North Carolina. It serves the same purpose as the acknowledgment for corporations but is applicable specifically for LCS. 3. Wake North Carolina Partial Satisfaction Acknowledgment for Corporation or LLC: In situations where only a portion of the debt or obligation has been satisfied, this acknowledgment is used to acknowledge the partial satisfaction. This document ensures that all parties are aware of the remaining amount or terms of the debt. 4. Wake County Release of Satisfaction for Corporation or LLC: This type of acknowledgment is used when all outstanding debts or obligations have been fully satisfied by a corporation or LLC. It serves as a release document, absolving the debtor from any further liability and confirming the complete satisfaction. 5. Wake County Subordination Agreement for Corporation or LLC: In certain cases where a corporation or LLC has multiple debts or obligations, this acknowledgment is used to establish the priority of each obligation. It outlines the hierarchy of debts and ensures that all parties involved are aware of their respective positions. Remember, it is always advisable to consult with a legal professional or attorney when dealing with legal documents to ensure compliance with local laws and regulations.

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How to fill out Wake North Carolina Acknowledgment Of Satisfaction For Corporation?

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FAQ

To look at a deed you can: Go to your Register of Deeds Office and look at the document there. Find your Register of Deeds in: Your phone book under county government. The NC Directory of State and County Officials:Look it up online. Many counties have their real property (land) records online. Go to the county website.

Deeds of trust and mortgages are a means of securing the payment of a debt or performance of an obligation. The debt may be established by promissory note, bond or other instrument. In North Carolina, a deed of trust or mortgage acts as a conveyance of the real estate.

A deed of trust is satisfied when the debt it secures is paid or when the obligation it secures is fulfilled. A deed of trust is no longer a lien on the property if the debt or obligation it secures has been satisfied but it will remain a cloud on title until removed from the chain of title.

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.

The Register of Deeds Office issues marriage licenses and supplies copies of birth and death certificates in Wake County. The General Statutes of North Carolina govern the Register of Deeds Office which has the responsibility of protecting the integrity, completeness, accuracy and safekeeping of these public records.

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.

The public is able to access documents, such as deeds, birth and death certificates, military discharge records, and others through the register of deeds. There may be a fee to access or copy public records through the register of deeds.

Satisfaction of mortgage vs. 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.

All real estate records are public records and are available for inspection between the hours of 8 a.m. and 5 p.m. Monday through Friday. The Register of Deeds Office is located in the County and Courts Office Building, 720 East Fourth Street, Charlotte, NC 28202.

Interesting Questions

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A corporation or an LLC. This guidebook focuses on nonprofit corporations, which are the most common organizational form for.U5529. Holly Springs, North Carolina. 6. Certain as the deadline for completing the Audit, and (2) a provision stating that time is of the essence. Note, this disclaimer does not apply to North Carolina consumers. Former G.S. 55-35 provided that officers and directors stand in a fiduciary relation "to the corporation and to its shareholders. Applicable to Electric Utility Service in North. Carolina. DOCKET NO. E-2, SUB 1103. Engaged in the practice oflaw in the City of Statesville, Iredell County, North Carolina. 4.

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Acknowledgment of Satisfaction for Corporation

Note: This summary is not intended to be an all inclusive discussion of North Carolina's construction or mechanic's lien laws, but does include basic provisions.

What is a construction or mechanic's lien?

Every State permits a person who supplies labor or materials for a construction project to claim a lien against the improved property. While some states differ in their definition of improvements and some states limit lien claims to buildings or structures, most permit the filing of a document with the local court that puts parties interested in the property on notice that the party asserting the lien has a claim. States differ widely in the method and time within which a party may act on their lien. Also varying widely are the requirements of written notices between property owners, contractors, subcontractors and laborers, and in some cases lending institutions. As a general rule, these statutes serve to prevent unpleasant surprises by compelling parties who wish to assert their legal rights to put all parties who might be interested in the property on notice of a claim or the possibility of a claim. This by no means constitutes a complete discussion of construction lien law and should not be interpreted as such. Parties seeking to know more about construction laws in their State should always consult their State statutes directly.

Who can file a lien in this State?

Any person who performs or furnishes labor or professional design or surveying services or furnishes materials or furnishes rental equipment pursuant to a contract, either express or implied, with the owner of real property for the making of an improvement thereon shall, upon complying with the provisions of this Article, have a lien on such real property to secure payment of all debts owing for labor done or professional design or surveying services or material furnished or equipment rented pursuant to such contract.

How long does a party have to file a lien?

Claims of lien may be filed at any time after the maturity of the obligation secured thereby but not later than 120 days after the last furnishing of labor or materials at the site of the improvement by the person claiming the lien.

What kind of notice is required prior to filing a lien?

Subcontractors are required to provide the obligor with a Notice to Obligor. This notice is slightly different depending on whether the party issuing the notice is a first, second, or third tier subcontractor, or is more remote.

How long is a lien good for?

An action to enforce the lien created by this Article may be instituted in any county in which the lien is filed. No such action may be commenced later than 180 days after the last furnishing of labor or materials at the site of the improvement by the person claiming the lien.

Are liens assignable?

Yes. North Carolina law specifically permits the assigning of liens. When a claim of lien has been filed, it may be assigned of record by the lien claimant in a writing filed with the clerk of the superior court who shall note said assignment in the margin of the judgment docket containing the claim of lien. Thereafter the assignee becomes the lien claimant of record.

Does this State require a notice prior to starting work, or after work has been completed?

No. North Carolina statutes do not require a Notice of Commencement or a Notice of Completion as required in some other States.

Does this State permit a person with an interest in property to deny responsibility for improvements?

No. North Carolina statutes do not have a provision which permits the denial of responsibility for improvements.

Is a notice attesting to the satisfaction of a lien provided for or required?

No. North Carolina statutes do not provide for or require that a lien holder who has been paid produce or file a notice to that effect. However, two methods under which a lien may be discharged include an acknowledgment of satisfaction of lien which may be filed by either the lien claimant or the property owner with the lien claimant's signature.

Does this State permit the use of a bond to release a lien?

Yes, whenever a sum equal to the amount of the lien or liens claimed is deposited with the clerk of court, to be applied to the payment finally determined to be due, whereupon the clerk of superior court shall cancel the lien or liens of record and whenever a corporate surety bond, in a sum equal to one and one fourth times the amount of the lien or liens claimed and conditioned upon the payment of the amount finally determined to be due in satisfaction of said lien or liens, is deposited with the clerk of court, whereupon the clerk of superior court shall cancel the lien or liens of record.

Acknowledgment of Satisfaction for Corporation

Note: This summary is not intended to be an all inclusive discussion of North Carolina's construction or mechanic's lien laws, but does include basic provisions.

What is a construction or mechanic's lien?

Who can file a lien in this State?

How long does a party have to file a lien?

What kind of notice is required prior to filing a lien?

How long is a lien good for?

Are liens assignable?

Does this State require a notice prior to starting work, or after work has been completed?

No. North Carolina statutes do not require a Notice of Commencement or a Notice of Completion as required in some other States.

Does this State permit a person with an interest in property to deny responsibility for improvements?

No. North Carolina statutes do not have a provision which permits the denial of responsibility for improvements.

Is a notice attesting to the satisfaction of a lien provided for or required?

Does this State permit the use of a bond to release a lien?

Wake North Carolina Acknowledgment of Satisfaction for Corporation

Description

Related forms

Viewed forms

How to fill out Wake North Carolina Acknowledgment Of Satisfaction For Corporation?

Form popularity

FAQ

How do I look up a deed in North Carolina?

What is a deed of trust in North Carolina?

How do you satisfy a deed of trust?

Is a satisfaction of mortgage the same as a title?

What does the Wake County Register of Deeds do?

What is a deed of trust satisfaction?

What does satisfaction mean in real estate?

Are deeds public record?

What does satisfaction mean on a deed?

Are deeds public record in North Carolina?

Interesting Questions

What is the Wake Acknowledgment of Satisfaction for Corporation415236?

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How does the Wake Acknowledgment of Satisfaction benefit Corporation415236?

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

Wake North Carolina Acknowledgment of Satisfaction for Corporation

Description

Related forms

Related legal definitions

Viewed forms

How to fill out Wake North Carolina Acknowledgment Of Satisfaction For Corporation?

Form popularity

FAQ

How do I look up a deed in North Carolina?

What is a deed of trust in North Carolina?

How do you satisfy a deed of trust?

Is a satisfaction of mortgage the same as a title?

What does the Wake County Register of Deeds do?

What is a deed of trust satisfaction?

What does satisfaction mean in real estate?

Are deeds public record?

What does satisfaction mean on a deed?

Are deeds public record in North Carolina?