This Release - Satisfaction - Cancellation Deed of Trust - by Corporate Lender is for the satisfaction or release of a mortgage for the state of Utah by a Corporation. This form complies with all state statutory laws and requires signing in front of a notary public. The described real estate is therefore released from the mortgage.
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Utah Deed of Reconveyance by Corporate Trustee
Utah Form Full For Employees
State:
Utah
Control #:
UT-S123
Format:
Word;
Rich Text
Instant download
Description Ut Reconveyance Corporate Utah
Free preview Signer Title Mortgagee
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Reconveyance Full Statement Interesting Questions
The Utah form full for employees is a document that is used to gather information about an employee's personal and tax-related details for the purpose of payroll processing.
Completing the Utah form full is necessary because it ensures that your employer has accurate information to calculate your state income tax withholding correctly.
All employees working in Utah are required to fill out the Utah form full, regardless of their residency status.
You can obtain the Utah form full from your employer or the Utah State Tax Commission's website. It is also commonly referred to as the Utah Employee Withholding Allowance Certificate.
On the Utah form full, you will need to provide your personal details such as your full name, Social Security number, address, and marital status. You will also need to indicate your withholding allowances and any additional amount you wish to withhold.
Withholding allowances are exemptions that you qualify for, which can reduce the amount of income tax that is withheld from your paycheck. The more allowances you claim, the less tax will be withheld.
Yes, you can change your withholding allowances in the future by submitting a new Utah form full to your employer. It is recommended to review your allowances annually to ensure accurate withholding.
Failing to complete the Utah form full may result in your employer withholding taxes at the highest rate possible, which could lead to overpayment or underpayment of taxes. It is important to complete the form to avoid such issues.
If you made a mistake on your Utah form full, you should promptly notify your employer and submit a corrected version of the form. It is essential to provide accurate information to ensure correct tax calculations.
It is recommended to review and update your Utah form full whenever there are significant changes in your personal or financial circumstances. This could include changes in marital status, dependents, or income.
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Law summary
Deed of Reconveyance by Corporate Trustee
Assignments Generally: Lenders, or holders
of mortgages or deeds of trust, often assign mortgages or deeds of trust
to other lenders, or third parties. When this is done the assignee
(person who received the assignment) steps into the place of the original
lender or assignor. To effectuate an assignment, the general rules
is that the assignment must be in proper written format and recorded to
provide notice of the assignment.
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. The general rule is that the satisfaction must be in proper written format and recorded to provide notice of the satisfaction. If the lender fails to record a satisfaction within set time limits, the lender may be responsible for damages set by statute for failure to timely cancel the lien. Depending on your state, a satisfaction may be called a Satisfaction, Cancellation, or Reconveyance. Some states still recognize marginal satisfaction but this is slowly being phased out. A marginal satisfaction is where the holder of the mortgage physically goes to the recording office and enters a satisfaction on the face of the the recorded mortgage, which is attested by the clerk.
Utah Law
Assignment: An assignment must be in writing and recorded.
Demand to Satisfy: None required. Lender or servicer who fails to release the security interest on a secured loan within 90 days after receipt of the final payment of the loan is liable. (see below)
Recording Satisfaction: Any trust deed, ... reconveyance of the trust property, if acknowledged as provided by law, is entitled to be recorded.
Marginal Satisfaction:
Penalty: A secured lender or servicer who fails to release the security interest on a secured loan within 90 days after receipt of the final payment of the loan is liable to another secured lender on the real property or the owner or titleholder of the real property for:
(a) the greater of $1,000 or treble actual damages incurred because of the failure to release the security interest, including all expenses incurred in completing a quiet title action; and
(b) reasonable attorneys' fees and court costs.
Acknowledgment: An assignment or satisfaction must contain a proper Utah acknowledgment, or other acknowledgment approved by statute.
Utah Statutes
57-1-36. Trust deeds -- Instruments entitled to be
recorded -- Assignment of a
beneficial interest.
Any trust deed, substitution of trustee, assignment of a beneficial interest under a trust deed, notice of default, trustee's deed, reconveyance of the trust property, and any instrument by which any trust deed is subordinated or waived as to priority, if acknowledged as provided by law, is entitled to be recorded. The recording of an assignment of a beneficial interest in the trust deed does not in itself impart notice of the assignment to the trustor, his heirs or personal representatives, so as to invalidate any payment made by any of them to the person holding the note, bond, or other instrument evidencing the obligation by the trust deed.
57-1-38. Release of security interest.
(1) As used in this section:
(a) "Secured lender" means:
(i) a mortgagee on a mortgage;
(ii) a beneficiary on a trust deed;
(iii) a person that holds or retains legal
title to real property as security for financing the purchase of the real
property under a real estate sales contract; and
(iv) any other person that holds or retains
a security interest in real property to secure the repayment of a secured
loan.
(b) (i) "Secured loan" means a loan or
extension of credit, the repayment of which is secured by a mortgage, a
trust deed, the holding or retention of legal title under a real estate
sales contract, or other security interest in real property, whether or
not the security interest is perfected.
(ii) A judgment award secured by a judgment
lien is not of itself a secured loan. A subsequent written agreement between
a judgment creditor and a judgment debtor concerning payment of the judgment
is a secured loan if it otherwise qualifies under the definition in Subsection
(1)(b)(i).
(c) "Security interest" means an interest
in real property that secures payment or performance of an obligation.
Security interest includes a lien or encumbrance.
(d) "Servicer" means a person that services
and receives loan payments on behalf of a secured lender with respect to
a secured loan.
(2) This section may not be interpreted
to validate, invalidate, alter, or otherwise affect the foreclosure of
a mortgage, the exercise of a trustee's power of sale, the exercise of
a seller's right of reentry under a real estate sales contract, or the
exercise of any other power or remedy of a secured lender to enforce the
repayment of a secured loan.
(3) A secured lender or servicer who
fails to release the security interest on a secured loan within 90 days
after receipt of the final payment of the loan is liable to another secured
lender on the real property or the owner or titleholder of the real property
for:
(a) the greater of $1,000 or treble
actual damages incurred because of the failure to release the security
interest, including all expenses incurred in completing a quiet title action;
and (b) reasonable attorneys' fees and
court costs.
(4) A secured lender or servicer is not
liable under Subsection (3) if the secured lender or servicer:
(a) has established a reasonable procedure
to release the security interest on a secured loan in a timely manner after
the final payment on the loan;
(b) has complied with this procedure in
good faith; and
(c) is unable to release the security
interest within 90 days after receipt of the final payment because of the
action or inaction of an agency or other person beyond its direct control.
Legal definition
Deed of Reconveyance by Corporate Trustee
Assignments Generally: Lenders, or holders
of mortgages or deeds of trust, often assign mortgages or deeds of trust
to other lenders, or third parties. When this is done the assignee
(person who received the assignment) steps into the place of the original
lender or assignor. To effectuate an assignment, the general rules
is that the assignment must be in proper written format and recorded to
provide notice of the assignment.
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. The general rule is that the satisfaction must be in proper written format and recorded to provide notice of the satisfaction. If the lender fails to record a satisfaction within set time limits, the lender may be responsible for damages set by statute for failure to timely cancel the lien. Depending on your state, a satisfaction may be called a Satisfaction, Cancellation, or Reconveyance. Some states still recognize marginal satisfaction but this is slowly being phased out. A marginal satisfaction is where the holder of the mortgage physically goes to the recording office and enters a satisfaction on the face of the the recorded mortgage, which is attested by the clerk.
Utah Law
Assignment: An assignment must be in writing and recorded.
Demand to Satisfy: None required. Lender or servicer who fails to release the security interest on a secured loan within 90 days after receipt of the final payment of the loan is liable. (see below)
Recording Satisfaction: Any trust deed, ... reconveyance of the trust property, if acknowledged as provided by law, is entitled to be recorded.
Marginal Satisfaction:
Penalty: A secured lender or servicer who fails to release the security interest on a secured loan within 90 days after receipt of the final payment of the loan is liable to another secured lender on the real property or the owner or titleholder of the real property for:
(a) the greater of $1,000 or treble actual damages incurred because of the failure to release the security interest, including all expenses incurred in completing a quiet title action; and
(b) reasonable attorneys' fees and court costs.
Acknowledgment: An assignment or satisfaction must contain a proper Utah acknowledgment, or other acknowledgment approved by statute.
Utah Statutes
57-1-36. Trust deeds -- Instruments entitled to be
recorded -- Assignment of a
beneficial interest.
Any trust deed, substitution of trustee, assignment of a beneficial interest under a trust deed, notice of default, trustee's deed, reconveyance of the trust property, and any instrument by which any trust deed is subordinated or waived as to priority, if acknowledged as provided by law, is entitled to be recorded. The recording of an assignment of a beneficial interest in the trust deed does not in itself impart notice of the assignment to the trustor, his heirs or personal representatives, so as to invalidate any payment made by any of them to the person holding the note, bond, or other instrument evidencing the obligation by the trust deed.
57-1-38. Release of security interest.
(1) As used in this section:
(a) "Secured lender" means:
(i) a mortgagee on a mortgage;
(ii) a beneficiary on a trust deed;
(iii) a person that holds or retains legal
title to real property as security for financing the purchase of the real
property under a real estate sales contract; and
(iv) any other person that holds or retains
a security interest in real property to secure the repayment of a secured
loan.
(b) (i) "Secured loan" means a loan or
extension of credit, the repayment of which is secured by a mortgage, a
trust deed, the holding or retention of legal title under a real estate
sales contract, or other security interest in real property, whether or
not the security interest is perfected.
(ii) A judgment award secured by a judgment
lien is not of itself a secured loan. A subsequent written agreement between
a judgment creditor and a judgment debtor concerning payment of the judgment
is a secured loan if it otherwise qualifies under the definition in Subsection
(1)(b)(i).
(c) "Security interest" means an interest
in real property that secures payment or performance of an obligation.
Security interest includes a lien or encumbrance.
(d) "Servicer" means a person that services
and receives loan payments on behalf of a secured lender with respect to
a secured loan.
(2) This section may not be interpreted
to validate, invalidate, alter, or otherwise affect the foreclosure of
a mortgage, the exercise of a trustee's power of sale, the exercise of
a seller's right of reentry under a real estate sales contract, or the
exercise of any other power or remedy of a secured lender to enforce the
repayment of a secured loan.
(3) A secured lender or servicer who
fails to release the security interest on a secured loan within 90 days
after receipt of the final payment of the loan is liable to another secured
lender on the real property or the owner or titleholder of the real property
for:
(a) the greater of $1,000 or treble
actual damages incurred because of the failure to release the security
interest, including all expenses incurred in completing a quiet title action;
and (b) reasonable attorneys' fees and
court costs.
(4) A secured lender or servicer is not
liable under Subsection (3) if the secured lender or servicer:
(a) has established a reasonable procedure
to release the security interest on a secured loan in a timely manner after
the final payment on the loan;
(b) has complied with this procedure in
good faith; and
(c) is unable to release the security
interest within 90 days after receipt of the final payment because of the
action or inaction of an agency or other person beyond its direct control.
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