Satisfaction, Release or Cancellation of Deed of Trust by Individual - Virginia 2025

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If you are discharged from the trust deed Any unsecured debt left over will be written off as long as you have stuck to the agreed terms.
Once a settlement is reached, it is important to draft a deed of release to ensure that the other party cannot issue legal proceedings against the other parties. Therefore, a deed of release provides conclusive evidence following the end of a dispute or agreement.
After or accompanying payment in full of the obligation secured by a deed of trust or judgment lien, a settlement agent or title insurance company intending to release a deed of trust or judgment lien pursuant to this subsection shall deliver to the lien creditor by certified mail or commercial overnight delivery
A deed of trust is satisfied when the debt it secures is paid or when the obligation it secures is fulfilled. A deed of trust is no longer a lien on the property if the debt or obligation it secures has been satisfied but it will remain a cloud on title until removed from the chain of title.
The certificate of satisfaction shall be signed by the creditor or his duly authorized agent, attorney or attorney-in-fact, or any person to whom the instrument evidencing the indebtedness has been endorsed or assigned for the purpose of effecting such release.
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Essentially, a deed of trust provides a lender with security for the repayment of the loan and effectively functions similarly to a mortgage. A deed of trust is a deed that transfers a legal interest in a piece of real property owned by the lendee to the lender, or trustee, in order to secure the debt owed on the loan.
Through a deed of release of mortgage, also called a release of deed of trust, the lender agrees to remove the deed of trust, which is the document containing all of the mortgages terms and conditions that is filed at the beginning of the mortgage process.
It signifies that the obligations under a deed of trust have been fulfilled, and the borrower is released from the security instruments obligations.

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