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Satisfaction, Cancellation or Release of Mortgage Package - Idaho

Satisfaction, Cancellation or Release of Mortgage Package - Idaho 2025

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The document is a Specialty Forms Package from U.S. Legal Forms, Inc. for the satisfaction, release, or cancellation of a mortgage in Idaho. It includes various forms and letters necessary for releasing a property from a mortgage or deed of trust, along with descriptions and tips for completing the forms. The package emphasizes compliance with state laws and includes a disclaimer regarding the use of the forms.

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What is the difference between lien release and satisfied?

Lenders can either: 1) Release the lien and declare the debt paid and settled in full (called a full release and satisfaction) or 2) Release the lien only from the property and still consider you personally liable for any unpaid balance of the loan (lien release only).

Is a satisfaction of a mortgage the same as a release of a mortgage?

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.

What is the difference between release and satisfaction?

A release is a relinquishment of a right, which may be given gratuitously or for inadequate consideration, while an and satisfaction is the discharge of a debt or claim by the acceptance of some payment which is agreed to constitute full satisfaction.