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.
Tennessee Satisfaction of Mortgage by a Corporation is a legal document that signifies the fulfillment of a mortgage obligation by a corporate entity in the state of Tennessee. This document is crucial for corporations as it releases the lien on the property that was established when the mortgage was first entered into. In Tennessee, there are two common types of Satisfaction of Mortgage by a Corporation: 1. Full Satisfaction of Mortgage: This type of satisfaction is filed when a corporation has paid off the entire mortgage amount along with any accrued interest and fees. It serves as conclusive proof that the corporation has fulfilled its financial obligations and the lender no longer has any legal claim on the property. 2. Partial Satisfaction of Mortgage: This type of satisfaction is filed when a corporation has made partial payments on the mortgage, reducing the outstanding debt. It is typically used when the corporation has sold a portion of the property, and the lender agrees to release the lien on the sold portion while keeping the mortgage intact for the remaining portion. To complete a Tennessee Satisfaction of Mortgage by a Corporation, certain key details must be included, such as: 1. Corporation Information: This includes the name of the corporation, its registered address, and any other identification details required by the state. 2. Mortgage Information: The document should mention the original mortgage's details, such as the lender's name, the date of the mortgage agreement, and the recording information. 3. Property Details: Clearly identifying the property associated with the mortgage is essential. This includes the address, legal description, and any other relevant information that accurately identifies the property being released from the mortgage. 4. Signatures: Both the corporation and the lender (or their authorized representatives) must sign the Satisfaction of Mortgage document. These signatures confirm mutual agreement on the fulfillment of the mortgage obligations and the release of the lien. By filing a Tennessee Satisfaction of Mortgage by a Corporation, corporations ensure that their obligations are met and secured property is no longer subject to a mortgage lien. This document brings legal clarity to all parties involved and helps protect the rights and interests of both the corporation and the lender.Tennessee Satisfaction of Mortgage by a Corporation is a legal document that signifies the fulfillment of a mortgage obligation by a corporate entity in the state of Tennessee. This document is crucial for corporations as it releases the lien on the property that was established when the mortgage was first entered into. In Tennessee, there are two common types of Satisfaction of Mortgage by a Corporation: 1. Full Satisfaction of Mortgage: This type of satisfaction is filed when a corporation has paid off the entire mortgage amount along with any accrued interest and fees. It serves as conclusive proof that the corporation has fulfilled its financial obligations and the lender no longer has any legal claim on the property. 2. Partial Satisfaction of Mortgage: This type of satisfaction is filed when a corporation has made partial payments on the mortgage, reducing the outstanding debt. It is typically used when the corporation has sold a portion of the property, and the lender agrees to release the lien on the sold portion while keeping the mortgage intact for the remaining portion. To complete a Tennessee Satisfaction of Mortgage by a Corporation, certain key details must be included, such as: 1. Corporation Information: This includes the name of the corporation, its registered address, and any other identification details required by the state. 2. Mortgage Information: The document should mention the original mortgage's details, such as the lender's name, the date of the mortgage agreement, and the recording information. 3. Property Details: Clearly identifying the property associated with the mortgage is essential. This includes the address, legal description, and any other relevant information that accurately identifies the property being released from the mortgage. 4. Signatures: Both the corporation and the lender (or their authorized representatives) must sign the Satisfaction of Mortgage document. These signatures confirm mutual agreement on the fulfillment of the mortgage obligations and the release of the lien. By filing a Tennessee Satisfaction of Mortgage by a Corporation, corporations ensure that their obligations are met and secured property is no longer subject to a mortgage lien. This document brings legal clarity to all parties involved and helps protect the rights and interests of both the corporation and the lender.
