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Satisfaction, Release or Cancellation of Mortgage by Individual - Minnesota

Satisfaction, Release or Cancellation of Mortgage by Individual - Minnesota 2025

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The document is a Satisfaction of Mortgage, certifying the release and satisfaction of a mortgage for a specified property in Minnesota. It acknowledges receipt of payment and confirms that the mortgage is fully satisfied, releasing the real estate from any claims associated with it. The document includes details about the mortgage, parties involved, and notary acknowledgment.

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Click ‘Get Form’ to open it in the editor.
Begin by entering your name and contact information in the designated fields at the top of the form. This includes your firm/company name, address, city, state, zip code, and phone number.
Fill in the Assessor’s Property Tax Parcel/Account Number to identify the property associated with the mortgage.
In the 'SATISFACTION OF MORTGAGE' section, confirm that you acknowledge receipt of valuable consideration. Enter the amount received (e.g., ten dollars) and ensure it is clearly stated.
Provide details about the mortgage being released: include the date of mortgage execution, names of mortgagor(s), and mortgagee. Also, specify where it was filed (Book, Page, Document/Inst. No.) in the County Recorder's Office.
If applicable, complete the assignment section by providing details about any assignment of the mortgage including dates and recording information.
Sign and date the document at the bottom. Ensure that your printed name is included as well.
Finally, have a notary public acknowledge your signature by filling out their information in the designated area.

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What is another name for satisfaction of mortgage?

Depending on your state, a Satisfaction of Mortgage may also be known as: Mortgage Lien Release. Release of Mortgage.

What is a satisfaction of a mortgage?

A satisfaction of mortgage is a document that proves the borrower has paid off the mortgage in full, freeing the loans lien on the property and giving the title to the borrower.

What is the meaning of release of mortgage?

A release of mortgage, commonly known as a discharge of mortgage, is a legal document issued by the lender acknowledging that the mortgage debt is settled. It effectively releases the property from the lien, allowing homeowners clear ownership.

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.

How to complete a satisfaction of a mortgage?

Satisfaction of Mortgage Timeline 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.

Does Minnesota have buyers remorse law?

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.

What is the difference between satisfaction of mortgage and release of mortgage?

However, Minnesota does have a Three-Day Cooling-Off Law (more formally known as the Home Solicitation Sales Act) for home solicitation sales. The law applies to the rental, lease or sale of goods or services for household or personal use, and also property improvements.

Satisfaction, Release or Cancellation of Mortgage by Individual - Minnesota 2025

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