Most states have statutes that provide that a mortgage or deed of trust may be discharged in the county land records by the recorder of deeds. Generally these statutes proved that a certificate must be filed with said recorder and executed by the mortgagee or on its behalf and acknowledged as prescribed by law. The certificate must specify that the mortgage has been paid or otherwise satisfied or discharged, and should make a reference to the book and page containing the original mortgage or deed of trust.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Iowa Satisfaction of Mortgage by a Corporation refers to a legal document that signifies the release or satisfaction of a mortgage held by a corporation in the state of Iowa. When a corporation pays off its mortgage in full, this document is filed with the county recorder's office to officially declare that the corporation's mortgage obligation has been fulfilled. Keywords: Iowa, Satisfaction of Mortgage, Corporation, legal document, release, full payment, county recorder's office, obligation. Different types of Iowa Satisfaction of Mortgage by a Corporation include: 1. Partial Satisfaction: In some cases, a corporation may only satisfy a portion of its mortgage debt. This type of satisfaction of mortgage reflects the payment made towards a specific portion or percentage of the total mortgage amount. 2. Complete Satisfaction: This type refers to the full discharge of the corporation's mortgage debt. Once the corporation pays off the entire mortgage loan amount, a document of complete satisfaction is filed to remove the lien from the property. 3. Satisfaction and Release: This type of satisfaction of mortgage is commonly used when the corporation sells the property securing the mortgage loan. The corporation satisfies the mortgage, and the document states the release and discharge of the mortgage lien on the property, allowing for a clear transfer of ownership. 4. Conditional Satisfaction: In certain situations, a mortgage may have specific conditions attached to it. The satisfaction of mortgage document outlines these conditions, including any settlement agreements or future actions required by the corporation to fully satisfy the mortgage obligation. Overall, the Iowa Satisfaction of Mortgage by a Corporation is a crucial legal document, ensuring that a corporation's mortgage debt is properly released and marked as satisfied once the necessary payments are made. It provides security and certainty for both the corporation and the county recorder's office by accurately reflecting the discharge of mortgage obligations.Iowa Satisfaction of Mortgage by a Corporation refers to a legal document that signifies the release or satisfaction of a mortgage held by a corporation in the state of Iowa. When a corporation pays off its mortgage in full, this document is filed with the county recorder's office to officially declare that the corporation's mortgage obligation has been fulfilled. Keywords: Iowa, Satisfaction of Mortgage, Corporation, legal document, release, full payment, county recorder's office, obligation. Different types of Iowa Satisfaction of Mortgage by a Corporation include: 1. Partial Satisfaction: In some cases, a corporation may only satisfy a portion of its mortgage debt. This type of satisfaction of mortgage reflects the payment made towards a specific portion or percentage of the total mortgage amount. 2. Complete Satisfaction: This type refers to the full discharge of the corporation's mortgage debt. Once the corporation pays off the entire mortgage loan amount, a document of complete satisfaction is filed to remove the lien from the property. 3. Satisfaction and Release: This type of satisfaction of mortgage is commonly used when the corporation sells the property securing the mortgage loan. The corporation satisfies the mortgage, and the document states the release and discharge of the mortgage lien on the property, allowing for a clear transfer of ownership. 4. Conditional Satisfaction: In certain situations, a mortgage may have specific conditions attached to it. The satisfaction of mortgage document outlines these conditions, including any settlement agreements or future actions required by the corporation to fully satisfy the mortgage obligation. Overall, the Iowa Satisfaction of Mortgage by a Corporation is a crucial legal document, ensuring that a corporation's mortgage debt is properly released and marked as satisfied once the necessary payments are made. It provides security and certainty for both the corporation and the county recorder's office by accurately reflecting the discharge of mortgage obligations.
