Satisfaction of Security Instrument
When Deed of
Trusts/Mortgages are recognized as fully satisfied/paid off, the secured
creditor holds the responsibility of filing a Satisfaction in our real
property records. Satisfactions of Deeds of Trusts and Mortgages are
filed in our real estate records.
View an example of a Satisfaction of Security Instrument form. To view the actual statutory form, it can be found in G.S. 45-36.11. These examples may or may not be appropriate to your particular situation.
A Trustee or Substitute
Trustee can record a Trustee’s satisfaction of deed of trust (G.S.
45-36.20). An example of the Trustee or Substitute Trustee statutory
form can be found at G.S. 45-36.21.
Note: For legal advice and guidance in preparing and completing your legal documents, always consult an attorney.
Presentation of Instruments
Effective October 1, 2011, satisfaction cannot be recorded via presentation (G.S. 45-36 Article 4). There is NO need to present the original security instruments to the Register of Deeds. Registers
do not have responsibility for actions in connection with a notice of
loss or theft of a bearer or holder negotiable instrument. The parties
are responsible for taking whatever action they deem appropriate in
connection with such a circumstance, including the recording of any
appropriate instruments.
Fee
There is no fee to record satisfactions.
However, effective
October 1, 2011, there is a new subsequent instrument fee of $25 for
each additional reference to more than one original instrument for which
recording data is required to be indexed in a document (see G.S.
161-14.1(a)(3). To avoid this fee, only reference one original instrument per satisfaction document.
Other Methods of Satisfaction
Refer to the N.C.
General Statutes for other possible methods of satisfaction such as a
Notice of Satisfaction by secured creditors or trustees; Certificate of
Satisfaction by owners of notes and secured creditors.
Note:
When a security
instrument (Deed of Trust, Mortgage) is paid off, no new deed is
automatically created or filed. A copy of your satisfaction may or may
not be mailed from your lender, though you can get a copy of it from
the e-vault or by visiting the office.