North Carolina law permits a property owner to file an instrument of satisfaction acknowledging the satisfaction of a lien. The instrument must have been signed by the lien claimant of record.
Wake North Carolina Instrument of Satisfaction by Corporation is a legal document that signifies the release or satisfaction of a mortgage loan held by a corporation in Wake County, North Carolina. This instrument is crucial for acknowledging that the debt secured by the mortgage has been fully repaid. Keywords: Wake North Carolina, Instrument of Satisfaction, Corporation, mortgage loan, release, satisfaction, debt, repay When a corporation lends money to an individual to purchase a property, a mortgage is typically created to secure the loan against the property. Once the borrower has made all the necessary payments, fulfilling their financial obligations, the corporation is required to file an Instrument of Satisfaction with the Wake County Register of Deeds office. This document serves as proof that the corporation, as the mortgagee, has released all claims and rights to the property, and the debt has been satisfied. It acts as a legal record, ensuring the property owner clears the mortgage from their title and provides them with the freedom to have full ownership of the property. Different types of Wake North Carolina Instrument of Satisfaction by Corporation may include variations specific to the type of loan or mortgage agreement. For example, there could be Instruments of Satisfaction for residential mortgages, commercial mortgages, construction loans, or refinanced loans. Each type is unique in terms of the terms and conditions, borrowers, and property details. To execute an Instrument of Satisfaction by Corporation, certain essential information must be included. This typically involves the following particulars: 1. Corporation Information: The legal name and registered address of the corporation involved in the mortgage transaction. 2. Borrower Information: The name and contact details of the individual or entity who borrowed the money and entered into the mortgage with the corporation. 3. Property Details: The complete address and legal description of the property that was secured by the mortgage. 4. Loan Details: Information regarding the loan, including its original amount, the date it was executed, and any relevant loan or mortgage identification numbers. 5. Mortgage Release Statement: A clear declaration that the corporation releases any and all claims to the mortgage and the property it secured, acknowledging that the debt has been fully satisfied. 6. Execution: The document must be signed and notarized by an authorized representative of the corporation, affirming its authenticity. Once the Wake North Carolina Instrument of Satisfaction by Corporation is properly completed, it should be promptly filed with the Wake County Register of Deeds office. This officially records the release of the mortgage, ensuring it is public knowledge and the property owner's title is free from any encumbrances related to the satisfied loan. In conclusion, Wake North Carolina Instrument of Satisfaction by Corporation is a vital legal document that signifies the corporation's release of a mortgage and acknowledges the satisfaction of a debt. Different types of this instrument may exist depending on the nature of the loan, such as residential mortgages, commercial mortgages, construction loans, or refinanced loans. It is essential that this document is executed accurately and filed promptly to ensure the borrower's property title is free from any encumbrances.Wake North Carolina Instrument of Satisfaction by Corporation is a legal document that signifies the release or satisfaction of a mortgage loan held by a corporation in Wake County, North Carolina. This instrument is crucial for acknowledging that the debt secured by the mortgage has been fully repaid. Keywords: Wake North Carolina, Instrument of Satisfaction, Corporation, mortgage loan, release, satisfaction, debt, repay When a corporation lends money to an individual to purchase a property, a mortgage is typically created to secure the loan against the property. Once the borrower has made all the necessary payments, fulfilling their financial obligations, the corporation is required to file an Instrument of Satisfaction with the Wake County Register of Deeds office. This document serves as proof that the corporation, as the mortgagee, has released all claims and rights to the property, and the debt has been satisfied. It acts as a legal record, ensuring the property owner clears the mortgage from their title and provides them with the freedom to have full ownership of the property. Different types of Wake North Carolina Instrument of Satisfaction by Corporation may include variations specific to the type of loan or mortgage agreement. For example, there could be Instruments of Satisfaction for residential mortgages, commercial mortgages, construction loans, or refinanced loans. Each type is unique in terms of the terms and conditions, borrowers, and property details. To execute an Instrument of Satisfaction by Corporation, certain essential information must be included. This typically involves the following particulars: 1. Corporation Information: The legal name and registered address of the corporation involved in the mortgage transaction. 2. Borrower Information: The name and contact details of the individual or entity who borrowed the money and entered into the mortgage with the corporation. 3. Property Details: The complete address and legal description of the property that was secured by the mortgage. 4. Loan Details: Information regarding the loan, including its original amount, the date it was executed, and any relevant loan or mortgage identification numbers. 5. Mortgage Release Statement: A clear declaration that the corporation releases any and all claims to the mortgage and the property it secured, acknowledging that the debt has been fully satisfied. 6. Execution: The document must be signed and notarized by an authorized representative of the corporation, affirming its authenticity. Once the Wake North Carolina Instrument of Satisfaction by Corporation is properly completed, it should be promptly filed with the Wake County Register of Deeds office. This officially records the release of the mortgage, ensuring it is public knowledge and the property owner's title is free from any encumbrances related to the satisfied loan. In conclusion, Wake North Carolina Instrument of Satisfaction by Corporation is a vital legal document that signifies the corporation's release of a mortgage and acknowledges the satisfaction of a debt. Different types of this instrument may exist depending on the nature of the loan, such as residential mortgages, commercial mortgages, construction loans, or refinanced loans. It is essential that this document is executed accurately and filed promptly to ensure the borrower's property title is free from any encumbrances.
