Insert Pages To Legal Utah Satisfaction Of Mortgage Forms For Free

Satisfactions Generally: Once a mortgage or deed of trust is paid, the holder of the mortgage is required to satisfy the mortgage or deed of trust of record to show that the mortgage or deed of trust is no longer a lien on the property.

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.

If the satisfaction of mortgage isn't recorded, the property owner may have trouble when they try to refinance or sell the property. They'll have to chase down the discharge documents and get them recorded in order to clear the title. It can even cause a delay to the closing.

In addition the following information should be included: The Payee Name. The Owner(s) of the mortgage holder. Total amount of mortgage. Mortgage date of execution. Full and legal description of the property to include tax parcel number. Acknowledgement that all payments have been made in full.

A deed of reconveyance, also known as a satisfaction of mortgage, is a document that proves you've paid off your mortgage. The deed of reconveyance releases the lien the mortgage lender placed on your property. You'll need this document to prove a clear title when you sell your home.

You can request a copy of the mortgage satisfaction document from your county recorder's office after you pay off your mortgage. Please allow 60 to 90 days after your loan is paid in full before contacting them for a copy of the lien. Note: timeframes can vary by county and could take up to six months.