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.
Wake North Carolina Satisfaction of Mortgage by a Corporation is a legal document that is used to officially release or discharge a mortgage on a property located in Wake County, North Carolina. This document demonstrates that the mortgage has been fully satisfied and the debt has been repaid in full by a corporation. It serves as proof that the property is free from any encumbrances or liens created by the mortgage. Keywords: Wake North Carolina, Satisfaction of Mortgage, Corporation, Wake County, legal document, discharge, property, encumbrances, liens. Different Types of Wake North Carolina Satisfaction of Mortgage by a Corporation: 1. General Satisfaction of Mortgage by a Corporation: This type of satisfaction of mortgage is applicable when a corporation fully repays the mortgage debt on a property located in Wake County, North Carolina without any specific conditions or requirements. 2. Conditional Satisfaction of Mortgage by a Corporation: In some cases, a corporation may only partially satisfy the mortgage debt, subject to certain conditions or requirements. This type of satisfaction of mortgage specifies such conditions or obligations that the corporation must fulfill to release the property from the mortgage. 3. Satisfaction of Mortgage by a Corporation with Deficiencies: Sometimes, a corporation may satisfy the mortgage on a property but still have some outstanding deficiencies or liabilities that need to be resolved. This type of satisfaction of mortgage acknowledges the fulfillment of the mortgage terms but also highlights any remaining obligations or deficiencies that the corporation must address. 4. Satisfaction of Mortgage by a Corporation with Partial Release: When a corporation satisfies a mortgage on multiple properties or an entire development, this type of satisfaction of mortgage may be used to release only a specific property from the mortgage while keeping the others encumbered. It clearly identifies the property being released and the remaining properties still under mortgage. 5. Satisfaction of Mortgage by a Corporation without Recourse: In certain situations, a corporation may satisfy the mortgage without seeking any legal recourse or pursuing any claims against the mortgagor for any default or non-payment. This type of satisfaction of mortgage indicates the corporation's decision to release the property without any further legal actions or financial claims. In summary, a Wake North Carolina Satisfaction of Mortgage by a Corporation is a crucial legal document that attests to the full repayment of a mortgage debt by a corporation in Wake County, North Carolina. It certifies that the property is now free from any encumbrances created by the mortgage, bringing a sense of financial security to both the corporation and any subsequent property owners.Wake North Carolina Satisfaction of Mortgage by a Corporation is a legal document that is used to officially release or discharge a mortgage on a property located in Wake County, North Carolina. This document demonstrates that the mortgage has been fully satisfied and the debt has been repaid in full by a corporation. It serves as proof that the property is free from any encumbrances or liens created by the mortgage. Keywords: Wake North Carolina, Satisfaction of Mortgage, Corporation, Wake County, legal document, discharge, property, encumbrances, liens. Different Types of Wake North Carolina Satisfaction of Mortgage by a Corporation: 1. General Satisfaction of Mortgage by a Corporation: This type of satisfaction of mortgage is applicable when a corporation fully repays the mortgage debt on a property located in Wake County, North Carolina without any specific conditions or requirements. 2. Conditional Satisfaction of Mortgage by a Corporation: In some cases, a corporation may only partially satisfy the mortgage debt, subject to certain conditions or requirements. This type of satisfaction of mortgage specifies such conditions or obligations that the corporation must fulfill to release the property from the mortgage. 3. Satisfaction of Mortgage by a Corporation with Deficiencies: Sometimes, a corporation may satisfy the mortgage on a property but still have some outstanding deficiencies or liabilities that need to be resolved. This type of satisfaction of mortgage acknowledges the fulfillment of the mortgage terms but also highlights any remaining obligations or deficiencies that the corporation must address. 4. Satisfaction of Mortgage by a Corporation with Partial Release: When a corporation satisfies a mortgage on multiple properties or an entire development, this type of satisfaction of mortgage may be used to release only a specific property from the mortgage while keeping the others encumbered. It clearly identifies the property being released and the remaining properties still under mortgage. 5. Satisfaction of Mortgage by a Corporation without Recourse: In certain situations, a corporation may satisfy the mortgage without seeking any legal recourse or pursuing any claims against the mortgagor for any default or non-payment. This type of satisfaction of mortgage indicates the corporation's decision to release the property without any further legal actions or financial claims. In summary, a Wake North Carolina Satisfaction of Mortgage by a Corporation is a crucial legal document that attests to the full repayment of a mortgage debt by a corporation in Wake County, North Carolina. It certifies that the property is now free from any encumbrances created by the mortgage, bringing a sense of financial security to both the corporation and any subsequent property owners.
