Satisfaction, Release or Cancellation of Mortgage by Corporation - Connecticut 2025

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The document is a Satisfaction of Mortgage form, which serves to officially release a mortgage on a property upon receipt of payment. It includes details such as the parties involved, the mortgage's original date, and relevant property information. The document requires signatures from corporate officers and notarization to validate the release.
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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 code, and phone number.
  3. Enter the Assessor’s Property Tax Parcel/Account Number if applicable.
  4. In the 'SATISFACTION OF MORTGAGE' section, specify the corporation's name and state of incorporation.
  5. Fill in the details of the mortgage being released: date of mortgage, names of mortgagor(s) and mortgagee, and filing information including book and page numbers.
  6. If applicable, complete the assignment section with relevant details about any assignments related to the mortgage.
  7. Sign and date the document in the presence of a notary public. Ensure that all required signatures are included along with titles.

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The first step requires a written acknowledgment. Your lender will need to document that you made your final payment, completing your repayment period. This document, sometimes called a release or satisfaction, must be docHubd and entered into your countys official records.
How to Write a Satisfaction of Mortgage Form Record Lender Borrower Details. Using Legal Templatess form, you can easily identify each party. Add Mortgage Information. Add the mortgage information, including when it was executed and the principal amount. Specify the Final Mortgage Payment. Finalize Details.
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.
Recall the Mortgage: In some cases, a lender may even have the right to recall the mortgage, meaning youd have to pay all of it back at once. If you cannot pay it, the lender may even have to resort to foreclose or forcing a power of sale on the property.

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