Satisfaction, Cancellation or Release of Mortgage Package - New Mexico 2025

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The document is a package from U.S. Legal Forms, Inc. that provides forms and letters necessary for the satisfaction, release, or cancellation of a mortgage in New Mexico. It includes various forms for both corporate and individual lenders, along with tips for completing the forms and a disclaimer regarding their legal use.
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  1. Click ‘Get Form’ to open it in the editor.
  2. Begin with the 'Satisfaction - Release of Mortgage by Mortgagee' form. Fill in the mortgagee's name and address, ensuring accuracy for legal compliance.
  3. Next, complete the 'Deed of Release and Full Reconveyance' form. Specify whether it's by a Corporate or Individual Lender, and provide details about the property being released.
  4. Utilize the 'Letter of Notice to Borrower' to inform the borrower about the mortgage status. Include relevant dates and signatures as required.
  5. Finally, prepare the 'Letter to Recording Office' for official recording. Ensure all necessary information is included for proper processing.

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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.
A satisfaction of mortgage, also known as release, cancellation or discharge of mortgage, is a type of legal document that proves you paid your mortgage in full. As a result, it also certifies that the propertys title is clear of any liens.
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.
Depending on your state, a Satisfaction of Mortgage may also be known as: Mortgage Lien Release. 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.

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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.
2941. (a) Within 30 days after any mortgage has been satisfied, the mortgagee or the assignee of the mortgagee shall execute a certificate of the discharge thereof, as provided in Section 2939, and shall record or cause to be recorded in the office of the county recorder in which the mortgage is recorded.

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by SG Lubar 1990 Instead of merely relying on the release document, the party to be discharged must also demonstrate that the instrument was not released through error, i.e.,

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least fifteen (15) days prior to the effective date of cancellation. B. A person may satisfy the requirements of Subsection A of 12.25.2.8 NMAC by depositing

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