Nebraska Statutes 76-2805. Certificate of satisfaction; contents; statutory form
(1) A certificate of satisfaction shall:
Terms Used In Nebraska Statutes 76-2805
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: shall include bodies politic and corporate, societies, communities, the public generally, individuals, partnerships, limited liability companies, joint-stock companies, and associations. See Nebraska Statutes 49-801
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- State: when applied to different states of the United States shall be construed to extend to and include the District of Columbia and the several territories organized by Congress. See Nebraska Statutes 49-801
- Trustee: A person or institution holding and administering property in trust.
(a) Identify the original parties to the security instrument, the landowner, the secured creditor, the record holder of the security instrument, if different from the secured creditor, the recording data for the security instrument, and a legal description of the real property identified in the security instrument;
(b) State that the person executing the certificate of satisfaction is the closing agent and, if the closing agent is a title insurance agent, state the book and page or instrument number of the designation of authority by which the title insurance agent is authorized to file the certificate of satisfaction;
(c) State that the secured creditor provided a payoff statement;
(d) State that there is satisfactory evidence that the secured creditor has received full payment or performance of the sums identified in the payoff statement;
(e) State that there are reasonable grounds to believe that the real property described in the security instrument is residential real property;
(f) State that the secured creditor has failed to execute and record a deed of reconveyance or release or satisfaction of the security interest and that the closing agent has not received a notification that the secured obligation remains unsatisfied;
(g) State that sixty days have elapsed since the secured creditor received full payment or performance of the sums identified in the payoff statement and notification in accordance with section 76-2806 has been given to the secured creditor; and
(h) Be executed and acknowledged as required for a conveyance of an interest in real property.
(2) The following statutory certificate of satisfaction, when reproduced and used in the identical words or in substantially the same or a more similar than dissimilar form, shall satisfy the requirements of subsection (1) of this section:
CERTIFICATE OF SATISFACTION
The undersigned closing agent with a designation of authority recorded in book …………., page(s) ………, or as instrument …………………… of the miscellaneous records relating to real estate of ……………… County, Nebraska, from a title insurer authorized to transact the business of insuring titles to interests in real property in the State of Nebraska, or a member in good standing of the Nebraska State Bar Association, hereby represents:
(a) The indebtedness secured by that certain security instrument, identified as a mortgage, trust deed, or deed of trust, executed by ………….., as mortgagor/trustor, to …………., as trustee, and ………….., as beneficiary or ………….., as mortgagee, recorded on ……. in book ……., page(s) ……., or as Inst. No. ………… of the mortgage records of …………. County, Nebraska, and creating a security interest in the following described real estate: ………………………….. has received full payment or performance pursuant to a payoff statement provided to the undersigned on ………………. by …………………, the holder of the underlying indebtedness, and being the secured creditor;
(b) The undersigned has satisfactory evidence that the secured creditor has received full payment or performance of the sums identified in such payoff statement;
(c) The undersigned has reasonable grounds to believe that the real property described in the security instrument is residential real property;
(d) The undersigned has not received notification that the secured obligation remains unsatisfied; and
(e) To the best knowledge of the undersigned, the secured creditor has not recorded any instrument satisfying or releasing the security interest within sixty days following (i) the secured creditor’s receipt of full payment or performance and (ii) notification as required by law.
Dated: ……………, by ………………….., Closing Agent.