North Carolina General Statutes 45-36.11. Satisfaction: form
Terms Used In North Carolina General Statutes 45-36.11
- Deed: The legal instrument used to transfer title in real property from one person to another.
- following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
- 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.
(a) Standard Form. – No particular phrasing is required for a satisfaction of a security instrument. The following form, when properly completed, is sufficient to satisfy the requirements of N.C. Gen. Stat. § 45-36.10(a):
“SATISFACTION OF SECURITY INSTRUMENT
(N.C. Gen. Stat. § 45-36.10; N.C. Gen. Stat. § 45-37(a)(7))
The undersigned is now the secured creditor in the security instrument identified as follows:
Type of Security Instrument: (identify type of security instrument, such as deed of trust or mortgage)
Original Grantor(s): (Identify original grantor(s), trustor(s), or mortgagor(s))
Original Secured Party(ies): (Identify the original beneficiary(ies), mortgagee(s), or secured party(ies) in the security instrument)
Recording Data: The security instrument is recorded in Book ____ at Page ____ or as document number ________ in the office of the Register of Deeds for ____________ County, North Carolina.
This satisfaction terminates the effectiveness of the security instrument.
Date: ______________ _____________________________
(Signature of secured creditor)
[Acknowledgment before officer authorized to take acknowledgments]”
(b) Alternate Form. – A secured creditor who would like to indicate that the underlying obligation secured by the instrument has been extinguished may use the following form, which, when properly completed, is also sufficient to satisfy the requirements of N.C. Gen. Stat. § 45-36.10(a):
“SATISFACTION OF SECURITY INSTRUMENT
(N.C. Gen. Stat. § 45-36.10; N.C. Gen. Stat. § 45-37(a)(7))
The undersigned is now the secured creditor in the security instrument identified as follows:
Type of Security Instrument: (identify type of security instrument, such as deed of trust or mortgage)
Original Grantor(s): (Identify original grantor(s), trustor(s), or mortgagor(s))
Original Secured Party(ies): (Identify the original beneficiary(ies), mortgagee(s), or secured party(ies) in the security instrument)
Recording Data: The security instrument is recorded in Book ____ at Page ____ or as document number ________ in the office of the Register of Deeds for ____________ County, North Carolina.
This satisfaction terminates the effectiveness of the security instrument and extinguishes the underlying obligation secured by the instrument.
Date: ______________ _____________________________
(Signature of secured creditor)
[Acknowledgment before officer authorized to take acknowledgments]”.
(2005-123, s. 1; 2012-150, s. 1.)