Most states have statutes that provide that a mortgage or deed of trust may be partially discharged or released 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.
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.
A North Dakota Partial Release or Satisfaction of Mortgage by a Corporation refers to a legal document that is filed by a corporation to release or satisfy a portion of a mortgage lien on a property in North Dakota. This document is typically used when the borrower has successfully paid off a portion of their mortgage debt and wishes to have the corresponding portion of the mortgage lien released, indicating that they have fulfilled their financial obligations. Keywords: 1. North Dakota: Refers to the state where the release or satisfaction of mortgage is taking place. 2. Partial Release or Satisfaction: Indicates that only a specific portion of the mortgage lien is being released or satisfied, rather than the entire mortgage debt. 3. Mortgage: Refers to a loan agreement in which the borrower offers their property as collateral to secure the loan. 4. Corporation: Denotes a legal entity that is distinct from its owners, typically formed to carry out business activities. 5. Lien: Represents a legal claim or encumbrance placed on a property to secure a debt or payment obligation. Different Types of North Dakota Partial Release or Satisfaction of Mortgage by a Corporation: While there may not be different types of North Dakota Partial Releases or Satisfactions of Mortgage by a Corporation, it is important to note that this type of document can be utilized for various purposes, including but not limited to: 1. Partial Prepayment of Mortgage: When the borrower makes a payment to reduce the principal amount of the mortgage loan. 2. Partial Refinancing: If the borrower refinances a portion of their existing mortgage loan to take advantage of better terms or lower interest rates. 3. Release of Collateral: In cases where the borrower wishes to release a specific property from the mortgage lien, typically due to the sale or transfer of ownership. In conclusion, a North Dakota Partial Release or Satisfaction of Mortgage by a Corporation is a document filed by a corporation to release or satisfy a portion of a mortgage lien on a property within the state. It signifies that the borrower has fulfilled their financial obligations and allows for the release of specific collateral or the reduction of the mortgage debt amount.A North Dakota Partial Release or Satisfaction of Mortgage by a Corporation refers to a legal document that is filed by a corporation to release or satisfy a portion of a mortgage lien on a property in North Dakota. This document is typically used when the borrower has successfully paid off a portion of their mortgage debt and wishes to have the corresponding portion of the mortgage lien released, indicating that they have fulfilled their financial obligations. Keywords: 1. North Dakota: Refers to the state where the release or satisfaction of mortgage is taking place. 2. Partial Release or Satisfaction: Indicates that only a specific portion of the mortgage lien is being released or satisfied, rather than the entire mortgage debt. 3. Mortgage: Refers to a loan agreement in which the borrower offers their property as collateral to secure the loan. 4. Corporation: Denotes a legal entity that is distinct from its owners, typically formed to carry out business activities. 5. Lien: Represents a legal claim or encumbrance placed on a property to secure a debt or payment obligation. Different Types of North Dakota Partial Release or Satisfaction of Mortgage by a Corporation: While there may not be different types of North Dakota Partial Releases or Satisfactions of Mortgage by a Corporation, it is important to note that this type of document can be utilized for various purposes, including but not limited to: 1. Partial Prepayment of Mortgage: When the borrower makes a payment to reduce the principal amount of the mortgage loan. 2. Partial Refinancing: If the borrower refinances a portion of their existing mortgage loan to take advantage of better terms or lower interest rates. 3. Release of Collateral: In cases where the borrower wishes to release a specific property from the mortgage lien, typically due to the sale or transfer of ownership. In conclusion, a North Dakota Partial Release or Satisfaction of Mortgage by a Corporation is a document filed by a corporation to release or satisfy a portion of a mortgage lien on a property within the state. It signifies that the borrower has fulfilled their financial obligations and allows for the release of specific collateral or the reduction of the mortgage debt amount.
