Collect Data For Legal South Carolina Mortgage Satisfaction Forms For Free

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.

SECTION 12-24-70. Affidavits. (A)(1) The clerk of court or register of deeds shall require an affidavit showing the value of the realty to be filed with a deed. The affidavit required by this section must be signed by a responsible person connected with the transaction, and the affidavit must state that connection.

The prior owner conveying the property is primarily responsible for payment, and the new owner is secondarily responsible. The deed-recording fee rate is $1.85 for each $500.00 of the real estate's value.

In South Carolina, the formula for the transfer tax, mostly referred to as deed stamps, is $1.85 per $500 of consideration; this is the combined amount for city, county and state taxes. If the consideration is $100,000, the transfer tax is $370, and paid directly to the County Register of Deeds by the closing attorney.

South Carolina has a real estate transfer tax of $1.85 per $500 of the sales price. The seller typically pays this fee when transferring the property from the seller's name to the buyer.

A satisfaction and release document states the name of the creditor that has been paid, the date the full or final payment was received, and the name of the debtor (or borrower) who has fulfilled its obligation to the creditor.