Most states have statutes that provide that a mortgage or deed of trust may be partially discharged or released 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.
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.
A Wake North Carolina Partial Release or Satisfaction of Mortgage by a Corporation is a legal document filed by a corporation to release or satisfy a portion of a mortgage that has been granted on a property. This document is an important step towards eliminating the lien on the property and clearing the title. Keywords: Wake North Carolina, Partial Release, Satisfaction of Mortgage, Corporation, Property, Lien, Mortgage Release, Title Clearance. Types of Wake North Carolina Partial Release or Satisfaction of Mortgage by a Corporation: 1. Partial Release of Mortgage: In this type, the corporation releases a specific portion of the mortgage lien on the property. This is often done when a property has multiple parcels or when a portion of the property has been sold or transferred to another party. 2. Satisfaction of Mortgage: This type refers to the complete release and satisfaction of the mortgage by the corporation. It signifies that the entire mortgage debt has been paid off, and the lien on the property is fully lifted. This ensures that the property ownership is clear and free from any encumbrances. 3. Mortgage Subordination Agreement: While not a release or satisfaction in the traditional sense, this type of agreement is often related to the partial release or satisfaction of a mortgage. In a subordination agreement, the corporation agrees to subordinate its mortgage lien to another lien, allowing the property owner to secure a new loan or mortgage. This change in priority ensures that the new lien takes precedence over the corporation's mortgage. 4. Certificate of Release of Mortgage: This is an official document issued by the corporation to evidence the release and satisfaction of the mortgage. It serves as proof that the corporation has cleared its mortgage on the property and no longer holds any claim or interest in it. The Wake North Carolina Partial Release or Satisfaction of Mortgage by a Corporation is a crucial legal process that enables corporations to modify or release their mortgage interests in a property. It ensures transparency in property transactions, facilitates property transfers, and provides clarity and security to property owners and other parties involved.A Wake North Carolina Partial Release or Satisfaction of Mortgage by a Corporation is a legal document filed by a corporation to release or satisfy a portion of a mortgage that has been granted on a property. This document is an important step towards eliminating the lien on the property and clearing the title. Keywords: Wake North Carolina, Partial Release, Satisfaction of Mortgage, Corporation, Property, Lien, Mortgage Release, Title Clearance. Types of Wake North Carolina Partial Release or Satisfaction of Mortgage by a Corporation: 1. Partial Release of Mortgage: In this type, the corporation releases a specific portion of the mortgage lien on the property. This is often done when a property has multiple parcels or when a portion of the property has been sold or transferred to another party. 2. Satisfaction of Mortgage: This type refers to the complete release and satisfaction of the mortgage by the corporation. It signifies that the entire mortgage debt has been paid off, and the lien on the property is fully lifted. This ensures that the property ownership is clear and free from any encumbrances. 3. Mortgage Subordination Agreement: While not a release or satisfaction in the traditional sense, this type of agreement is often related to the partial release or satisfaction of a mortgage. In a subordination agreement, the corporation agrees to subordinate its mortgage lien to another lien, allowing the property owner to secure a new loan or mortgage. This change in priority ensures that the new lien takes precedence over the corporation's mortgage. 4. Certificate of Release of Mortgage: This is an official document issued by the corporation to evidence the release and satisfaction of the mortgage. It serves as proof that the corporation has cleared its mortgage on the property and no longer holds any claim or interest in it. The Wake North Carolina Partial Release or Satisfaction of Mortgage by a Corporation is a crucial legal process that enables corporations to modify or release their mortgage interests in a property. It ensures transparency in property transactions, facilitates property transfers, and provides clarity and security to property owners and other parties involved.
