Satisfaction Cancellation - Release of Mortgage - by Corporate Lender - Oklahoma 2025

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  1. Click ‘Get Form’ to open it in the editor.
  2. Begin by filling in the 'Prepared by and after Recording Return to' section with your name, firm/company, address, city, state, zip, and phone number.
  3. Enter the Assessor’s Property Tax Parcel/Account Number in the designated field.
  4. In the 'RELEASE OF MORTGAGE' section, confirm the corporation's name and state of incorporation. Acknowledge receipt of consideration for releasing the mortgage.
  5. Fill in details about the mortgage being released: date of mortgage, names of mortgagor(s) and mortgagee, filing information including book and page numbers.
  6. If applicable, complete the assignment section with relevant details regarding any assignments related to the mortgage.
  7. Sign and date the document where indicated. Ensure that a representative from your corporation signs it as well.
  8. Complete the notary section by providing necessary information for acknowledgment.

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A release is synonymous to a satisfaction of mortgage since they indicate the borrower has repaid their mortgage loan in full and the lien on the property has been lifted.
If a lender takes longer than 90 days to record it, they can be charged up to $1,500 in penalties. So, in theory, a satisfaction should be recorded within 30-90 days of payoff regardless of what state you work in.
A defeasance clause is a provision in a mortgage agreement that guarantees the borrower will receive full legal title to the property once the loan is fully repaid. Think of it as a built-in promise: Pay off your mortgage, and the lender releases their claim.
Mortgages; Mortgage Certificate of Release Act (P.A. 92-765) The Act provides that an officer or a specifically-certified agent of a title insurance company may, on behalf of a mortgagor, execute a certificate of release and record the certificate of release with the recorder.