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.
Collin Texas Satisfaction of Mortgage by a Corporation is a legal document that signifies the release of a mortgage lien placed on a property by a corporation in Collin County, Texas. When a borrower fulfills their mortgage obligation and repays the loan in its entirety, the corporation holding the mortgage is responsible for issuing a Satisfaction of Mortgage to acknowledge the debt has been satisfied and the lien on the property has been released. This document serves as proof that the mortgage has been paid off and enables the property owner to have a clear title. Keywords: Collin Texas, Satisfaction of Mortgage, Corporation, Collin County, legal document, mortgage lien, property, borrower, repayment, debt, lien release, proof, clear title. There are different types of Satisfaction of Mortgage by a Corporation that may be applicable in Collin Texas. Some of these include: 1. Voluntary Satisfaction of Mortgage by a Corporation: This type of Satisfaction of Mortgage is executed when the corporation holding the mortgage willingly releases the lien on the property, usually after the borrower has made the final payment towards their loan. 2. Partial Satisfaction of Mortgage by a Corporation: In certain cases, a borrower may repay a portion of their mortgage, reducing the overall debt. A corporation can issue a Partial Satisfaction of Mortgage to indicate that a partial release of the mortgage lien has been granted for the corresponding amount. 3. Subordination Agreement Satisfaction of Mortgage by a Corporation: If a borrower needs to refinance their mortgage or obtain a new loan while an existing mortgage is still active, a corporation may enter into a subordination agreement. This document establishes the priority of the new loan over the existing mortgage, and once the terms of the agreement are met, the corporation can issue a Satisfaction of Mortgage to release the lien. 4. Assignee Satisfaction of Mortgage by a Corporation: Sometimes, corporations transfer the ownership of mortgages to another entity. In such cases, the assignee (the new entity) may issue a Satisfaction of Mortgage to release the lien on the property once the mortgage has been paid off. Note: It is important to consult with legal professionals or real estate experts in Collin County, Texas, for accurate guidance on the specific requirements and variations of Satisfaction of Mortgage documents issued by corporations in the area.Collin Texas Satisfaction of Mortgage by a Corporation is a legal document that signifies the release of a mortgage lien placed on a property by a corporation in Collin County, Texas. When a borrower fulfills their mortgage obligation and repays the loan in its entirety, the corporation holding the mortgage is responsible for issuing a Satisfaction of Mortgage to acknowledge the debt has been satisfied and the lien on the property has been released. This document serves as proof that the mortgage has been paid off and enables the property owner to have a clear title. Keywords: Collin Texas, Satisfaction of Mortgage, Corporation, Collin County, legal document, mortgage lien, property, borrower, repayment, debt, lien release, proof, clear title. There are different types of Satisfaction of Mortgage by a Corporation that may be applicable in Collin Texas. Some of these include: 1. Voluntary Satisfaction of Mortgage by a Corporation: This type of Satisfaction of Mortgage is executed when the corporation holding the mortgage willingly releases the lien on the property, usually after the borrower has made the final payment towards their loan. 2. Partial Satisfaction of Mortgage by a Corporation: In certain cases, a borrower may repay a portion of their mortgage, reducing the overall debt. A corporation can issue a Partial Satisfaction of Mortgage to indicate that a partial release of the mortgage lien has been granted for the corresponding amount. 3. Subordination Agreement Satisfaction of Mortgage by a Corporation: If a borrower needs to refinance their mortgage or obtain a new loan while an existing mortgage is still active, a corporation may enter into a subordination agreement. This document establishes the priority of the new loan over the existing mortgage, and once the terms of the agreement are met, the corporation can issue a Satisfaction of Mortgage to release the lien. 4. Assignee Satisfaction of Mortgage by a Corporation: Sometimes, corporations transfer the ownership of mortgages to another entity. In such cases, the assignee (the new entity) may issue a Satisfaction of Mortgage to release the lien on the property once the mortgage has been paid off. Note: It is important to consult with legal professionals or real estate experts in Collin County, Texas, for accurate guidance on the specific requirements and variations of Satisfaction of Mortgage documents issued by corporations in the area.
