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What is a release deed in Maine?

A release deed is a deed whereby the signor releases to the other party any interest if any, they had in the property.

Is a release of mortgage the same as a deed?

This release of mortgage is recorded or filed and gives notice to the world that the lien is no more. On the other hand, when you have a trust deed or deed of trust, the lender files a release deed. With a deed of trust, you temporarily give control of the title to your property to the lender for security purposes.

Does a satisfaction of mortgage get recorded?

Your Satisfaction is recorded under the names of the borrower/mortgagor on the original loan.

Who gets the satisfaction of mortgage?

When you pay your mortgage off, its your lenders responsibility to prepare the satisfaction of mortgage, and have the involved parties sign the document and get it docHubd. The lender is also responsible for filing the documentation with the appropriate records office.

What does loan satisfaction mean?

Key Takeaways A satisfaction of mortgage is a signed document confirming that the borrower has paid off the mortgage in full and that the mortgage is no longer a lien on the property.

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