EFFECTIVE OCTOBER 1, 2005
Satisfaction by Presentation Ends Oct. 1, 2011
NOTICE: See NC Session Law 2005-123
for complete Mortgage Satisfaction Act including references to forms and procedural requirements associated with the following methods of
SATISFACTION OF SECURITY INSTRUMENT
G.S. 45-36.10 Content and effect of satisfaction.
TRUSTEE'S SATISFACTION OF DEED OF TRUST
- (a) A document is a satisfaction of a security
instrument if it does all of the following:
- (1) Identifies the type of security instrument, the original parties to the security instrument, the recording data for the security instrument and the office in which
the security instrument is recorded.
- (2) States that the person signing the satisfaction is the secured creditor.
- (3) Reserved.
- (4) Contains language terminating the effectiveness of the security instrument.
- (5) Is signed by the secured creditor and acknowledged as required by law for a conveyance of an interest in real property.
G.S.45-36.11 Satisfaction: Form
G.S. 45-36.20 Trustees satisfaction of deed of trust; content and effect.
- (d) Document is a trustee's satisfaction of a deed of trust if it complies with all of the following:
- (1) Identifies the original parties to the deed of trust, the recording data for the deed of trust,and the office in which the deed of trust is recorded.
- (2) States that the person signing the trustee's satisfaction is then serving as trustee or substitute trustee under the terms of the deed of trust.
- (3) Contains language terminating the effectiveness of the deed of trust.
- (4) Is signed by the trustee or substitute trustee then serving under the terms of the deed of trust and acknowledged as required by law for a conveyance of an
interest in real property.
G.S. 45-36.21 Trustee's Satisfaction of Deed of Trust: Form