Edit Legal Ohio Satisfaction Of Mortgage Forms For Free

Section 5301.36 | Entry of satisfaction. (B) Within ninety days from the date of the satisfaction of a mortgage, the mortgagee shall record a release of the mortgage evidencing the fact of its satisfaction in the appropriate county recorder's office and pay any fees required for the recording.

A mortgage shall be discharged upon the record of the mortgage by the county recorder when there is presented to the county recorder a certificate executed by the mortgagee or the mortgagee's assigns, acknowledged as provided in section 5301.01 of the Revised Code, or when there is presented to the recorder a deed of ...

When a mortgage is fully paid off, a Satisfaction of Mortgage document is the legal proof that the mortgage is finished and the title is clear of liens. When a mortgage is fully paid off, a Satisfaction of Mortgage document is the legal proof that the mortgage is finished and the title is clear of liens.

A deed of release, also known as a deed of reconveyance, is a legal document used to renounce one's claims against a specific property. A release deed completely releases the parties from their previous obligations. While there is no discernible difference between the two, the context in which the terms are used vary.

As an example, say Sally decides to purchase a house, and in doing so, she needs to take out a mortgage of $300,000 from the bank. The new property acts as collateral under the deed of trust. Once Sally has fully paid off her mortgage, the trustee must then complete a ?Request for Reconveyance.?

A deed of reconveyance is a document that transfers the title of a property to the borrower from the bank or mortgage holder once a mortgage has been satisfied. It clears the lender from the title to the property.