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.
Wyoming Satisfaction of Mortgage by a Corporation is a legal document that signifies the release of a mortgage on a property by a corporation in the state of Wyoming. This document serves as proof that the mortgage debt has been fully repaid, and the property is no longer encumbered by the mortgage. In Wyoming, there are two primary types of Satisfaction of Mortgage by a Corporation that are commonly used: 1. Full Satisfaction of Mortgage: This type of satisfaction is filed when the corporation has completely paid off the mortgage debt owed to the lender. It involves the corporation providing evidence, such as a promissory note or a release of lien, to show that the outstanding mortgage balance has been settled in full. Once filed, the corporation's obligation to the lender is considered fulfilled, and the mortgage lien is released, granting the corporation full ownership and control of the property. 2. Partial Satisfaction of Mortgage: This type of satisfaction is filed when the corporation has paid off a portion of the mortgage debt, but there remains an outstanding balance. It is commonly used when a corporation refinances or pays down a portion of the mortgage before settling the remaining debt. The Partial Satisfaction of Mortgage document specifies the amount paid and the remaining balance due. It allows the corporation to release a portion of the property from the mortgage lien while still maintaining an encumbrance on the outstanding balance. In both cases, the Satisfaction of Mortgage by a Corporation is typically filed with the county clerk or recorder's office in the county where the property is situated. It is essential to ensure the document is properly completed, signed, and notarized to ensure its validity. By filing the Satisfaction of Mortgage, the corporation establishes a clear record that the mortgage debt has been fully or partially satisfied, protecting its interest in the property. Additionally, this document eliminates any obstacles that may hinder future property transfers or refinancing processes. Overall, the Wyoming Satisfaction of Mortgage by a Corporation is a crucial legal instrument that finalizes the repayment of a mortgage debt and releases the corporation from any obligations related to the mortgage. It enables corporations to achieve full ownership rights, providing a smooth transition for future property transactions.Wyoming Satisfaction of Mortgage by a Corporation is a legal document that signifies the release of a mortgage on a property by a corporation in the state of Wyoming. This document serves as proof that the mortgage debt has been fully repaid, and the property is no longer encumbered by the mortgage. In Wyoming, there are two primary types of Satisfaction of Mortgage by a Corporation that are commonly used: 1. Full Satisfaction of Mortgage: This type of satisfaction is filed when the corporation has completely paid off the mortgage debt owed to the lender. It involves the corporation providing evidence, such as a promissory note or a release of lien, to show that the outstanding mortgage balance has been settled in full. Once filed, the corporation's obligation to the lender is considered fulfilled, and the mortgage lien is released, granting the corporation full ownership and control of the property. 2. Partial Satisfaction of Mortgage: This type of satisfaction is filed when the corporation has paid off a portion of the mortgage debt, but there remains an outstanding balance. It is commonly used when a corporation refinances or pays down a portion of the mortgage before settling the remaining debt. The Partial Satisfaction of Mortgage document specifies the amount paid and the remaining balance due. It allows the corporation to release a portion of the property from the mortgage lien while still maintaining an encumbrance on the outstanding balance. In both cases, the Satisfaction of Mortgage by a Corporation is typically filed with the county clerk or recorder's office in the county where the property is situated. It is essential to ensure the document is properly completed, signed, and notarized to ensure its validity. By filing the Satisfaction of Mortgage, the corporation establishes a clear record that the mortgage debt has been fully or partially satisfied, protecting its interest in the property. Additionally, this document eliminates any obstacles that may hinder future property transfers or refinancing processes. Overall, the Wyoming Satisfaction of Mortgage by a Corporation is a crucial legal instrument that finalizes the repayment of a mortgage debt and releases the corporation from any obligations related to the mortgage. It enables corporations to achieve full ownership rights, providing a smooth transition for future property transactions.
