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SATISFACTION METHODS
EFFECTIVE OCTOBER 1, 2005
NOTICE: See NC Session Law 2005-123 for the complete
Mortgage Satisfaction Act, including references to forms and procedural
requirements associates with the following methods of satisfaction:
SATISFACTION OF SECURTY 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
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.
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 if 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.
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