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:
SATISFACTION OF SECURITY INSTRUMENT
G.S. 45-36.10 Content and effect of satisfaction.
(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.
(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. 45-36.10 Satisfaction Individual: Form
G.S. 45-36.10 Satisfaction Corporation: Form
TRUSTEE'S SATISFACTION OF DEED OF TRUST
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. 45-36.20 Trustee's Satisfaction of Deed of Trust: Form