Florida Satisfaction of Mortgage is a document that is used to legally release a borrower from their mortgage obligation. It is filed with the county recorder's office and is generally required in order to transfer the title of a property from one borrower to another. The document is signed by both the lender and borrower and states that the mortgage has been paid in full. There are two types of Florida Satisfaction of Mortgage: Voluntary and Involuntary. A Voluntary Satisfaction of Mortgage is signed by both parties and is used when the borrower has paid off the loan in full. An Involuntary Satisfaction of Mortgage is signed by the lender only and is used when the lender has accepted a deed in lieu of foreclosure or has obtained a deficiency judgment.
Florida Satisfaction of Mortgage
Description
How to fill out Florida Satisfaction Of Mortgage?
US Legal Forms is the most straightforward and profitable way to find suitable legal templates. It’s the most extensive online library of business and personal legal documentation drafted and verified by lawyers. Here, you can find printable and fillable blanks that comply with national and local laws - just like your Florida Satisfaction of Mortgage.
Obtaining your template takes just a few simple steps. Users that already have an account with a valid subscription only need to log in to the website and download the document on their device. Later, they can find it in their profile in the My Forms tab.
And here’s how you can obtain a properly drafted Florida Satisfaction of Mortgage if you are using US Legal Forms for the first time:
- Look at the form description or preview the document to make sure you’ve found the one meeting your needs, or locate another one using the search tab above.
- Click Buy now when you’re sure of its compatibility with all the requirements, and choose the subscription plan you like most.
- Create an account with our service, sign in, and purchase your subscription using PayPal or you credit card.
- Choose the preferred file format for your Florida Satisfaction of Mortgage and save it on your device with the appropriate button.
After you save a template, you can reaccess it anytime - just find it in your profile, re-download it for printing and manual fill-out or import it to an online editor to fill it out and sign more efficiently.
Take full advantage of US Legal Forms, your trustworthy assistant in obtaining the required official documentation. Try it out!
Form popularity
FAQ
If properly executed, a Florida quitclaim deed usually requires two weeks to three months to be recorded. The parties involved in real estate transactions generally seek to record the deed immediately after the closing process is concluded.
A satisfaction of mortgage is a signed document confirming that the borrower has paid off the mortgage in full and that the mortgage is no longer a lien on the property.
Within 60 days of the date of receipt of the full payment of the mortgage, lien, or judgment, the person required to acknowledge satisfaction of the mortgage, lien, or judgment shall send or cause to be sent the recorded satisfaction to the person who has made the full payment.
Where do I record my Satisfaction of Mortgage when complete? The Satisfaction of Mortgage should be filed with the County Recorder or City Registrar. This will acknowledge and document, that the previously obtained mortgage has been paid in full and there is no longer a lien on the property.
If the mortgagee fails to execute and record a Satisfaction of Mortgage within the 60-day period afforded by statute, the mortgagor (property owner) may file suit and seek a court order directing the mortgagee to execute a satisfaction of mortgage or an order extinguishing the lien against the property.
How Do Florida Mortgage Satisfactions Work? Written acknowledgment. Upon receiving your final payment, the lender must execute and file a written, notarized document (typically referred to as a release or satisfaction of mortgage) that acknowledges the mortgage is satisfied or paid in full.
How Do Florida Mortgage Satisfactions Work? Written acknowledgment. Upon receiving your final payment, the lender must execute and file a written, notarized document (typically referred to as a release or satisfaction of mortgage) that acknowledges the mortgage is satisfied or paid in full.Notice to the property owner.
Mortgages: Do not require witnesses but must be acknowledged to be recorded.