North Carolina law permits a property owner to file an instrument of satisfaction acknowledging the satisfaction of a lien. The instrument must have been signed by the lien claimant of record.
Wilmington, North Carolina Instrument of Satisfaction by Corporation is a legal document that signifies the release of a mortgage lien or deed of trust on a property owned by a corporation in the Wilmington area of North Carolina. This instrument serves as proof that the corporation has fulfilled the terms and conditions of their mortgage agreement, thereby extinguishing the outstanding debt and clearing the property's title. The Wilmington North Carolina Instrument of Satisfaction by Corporation is usually executed by the corporation's authorized representative and must adhere to specific legal requirements. It includes the full legal name of the corporation, the original mortgage or deed of trust information, such as the borrower's name, the lender's name, and the recording information. The document also mentions the date when the mortgage was initially recorded and provides a detailed description of the property that was subject to the lien. Keywords: Wilmington, North Carolina, instrument of satisfaction, corporation, mortgage lien, deed of trust, release, property, legal document, outstanding debt, title, authorized representative, legal requirements, borrower, lender, recording information. There are different types of Wilmington North Carolina Instrument of Satisfaction by Corporation, which may include: 1. Full Satisfaction Instrument: This type of instrument is used when the corporation has completely paid off the mortgage or deed of trust and has satisfied all the financial obligations associated with it. It indicates that the property's title is free from any encumbrances, allowing the corporation to fully claim ownership. 2. Partial Satisfaction Instrument: This instrument is utilized when the corporation has made a partial payment towards the mortgage or deed of trust. It acknowledges the corporation's commitment to reducing the outstanding debt but does not fully release the lien on the property. 3. Subordination Agreement: In some cases, a corporation may enter into a subordination agreement where they agree to subordinate their mortgage lien or deed of trust on a property to another creditor. This agreement ensures that the new creditor's lien takes precedence over the corporation's lien in case of foreclosure or sale. 4. Release of Lien: This type of instrument signifies the complete removal of the mortgage lien or deed of trust placed on the property by the corporation. It is usually issued when the corporation has paid off the mortgage debt entirely, and the lender acknowledges that the property's title is unencumbered. Keywords: Full satisfaction instrument, partial satisfaction instrument, subordination agreement, release of lien, mortgage debt, ownership, encumbrances, creditor, foreclosure, sale.
