In the realm of real estate transactions, the Satisfaction of Mortgage form stands as a crucial document, essentially serving as proof that the borrower has fulfilled all mortgage obligations to the lender, allowing for the mortgage to be officially discharged from records. This form not only certifies that the mortgage in question is paid in full but also plays a key role in ensuring that such satisfaction is acknowledged and recorded appropriately within legal frameworks. It encompasses detailed sections designed for varying scenarios, including acknowledgments made both within and outside New York State, and outlines specific requirements for cases involving assignments of the mortgage or instances where the mortgage is held by a fiduciary. The form meticulously specifies the conditions under which a single certificate may discharge multiple mortgages, provided they are affected by certain types of instruments and duly noted in separate paragraphs. Additionally, it caters to the procedural necessities by stating the need for detailed information on any assignments, including the names of the assignor and assignee, the date of each assignment, and recording details, if applicable. This serves not only as a method of transparency but also as a safeguard for all parties involved, ensuring the correct and legal discharge of obligations. Equally important is the uniform acknowledgment section, which is tailored specifically for New York State, highlighting the procedural integrity and legal compliance in the acknowledgment process—a testament to the meticulous drafting aimed at upholding the legal standards and providing clarity and security to both lenders and borrowers.
| Question | Answer |
|---|---|
| Form Name | Satisfaction Mortgage Form |
| Form Length | 3 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 45 sec |
| Other names | satisfaction mortgage sample, satisfaction of mortgage template, satisfaction mortgage, satisfaction of mortgage form |
Insert residence, if individual or principal office, if corporation, giving street and street number.
Insert “further” when required.
Satisfaction of Mortgage - Uniform Acknowledgment
CONSULT YOUR LAWYER BEFORE SIGNING THIS
KNOW ALL MEN BY THESE PRESENTS
that |
|
|
|
|
|
|
|
DO |
HEREBY CERTIFY that the following Mortgage |
IS PAID, and do |
hereby consent |
||||
that the same be discharged of record. |
|
|
|
|
|
||
Mortgage dated the |
day of |
, |
, made by |
|
|
|
|
to |
|
|
|
|
|
|
|
in the principal sum of $ |
|
|
and recorded on the |
day of |
, |
, in |
|
Liber/Reel/CRFN/Document ID |
|
of Mortgages, Page |
, in the office of the |
|
|
||
of the |
|
|
|
|
|
|
|
which mortgage |
|
has not been |
assigned of record. |
Dated the |
day of |
, |
. |
IN PRESENCE OF:
Section 321 of the Real Property Law expressly provides who must execute this certificate of discharge in specific cases and also provides, among other things, that (1) no certificate shall purport to discharge more than one mortgage, (except that mortgages affected by instruments of consolidation, spreader, modification or correction may be included in one certificate if the instruments are set forth in detail in separate paragraphs); (2) if the mortgage has been assigned, in whole or in part, the certificate shall set forth; (a) the date of each assignment in the chain of title of title of the person or persons signing the certificate, (b) the names of the assignor and assignee, (c) the interest assigned, and (d) if the assignment has been recorded, the book and page where it has been recorded or the serial number of such record, or (e) if the assignment is being recorded simultaneously with the certificate of discharge, the certificate of discharge shall so state, and (f) if the mortgage has not been assigned of record, the certificate shall so state; (3) if the mortgage is held by an fiduciary, including an executor or administrator, the certificate of discharge shall recite the name of the court and the venue of the proceedings in which his appointment was made or in which the order or decree vesting him with such title or authority was entered.
Satisfaction of Mortgage - Uniform Acknowledgment
TO BE USED ONLY WHEN THE ACKNOWLEDGMENT IS MADE IN NEW YORK STATE
State of New York, County of |
|
, ss: |
|
|
On the |
day of |
in the year |
, before |
me, |
the undersigned, personally appeared |
|
|
||
,
personally known to me or proved to me on the basis of satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their capacity(ies), and that by his/her/their signature(s) on the instrument, the individual(s), or the person upon behalf of which the individual(s) acted, executed the instrument.
State of New York, County of |
|
, ss: |
|
On the |
day of |
in the year |
, before me, |
the undersigned, personally appeared |
|
||
,
personally known to me or proved to me on the basis of satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their capacity(ies), and that by his/her/their signature(s) on the instrument, the individual(s), or the person upon behalf of which the individual(s) acted, executed the instrument.
(signature and office of individual taking proof)
(signature and office of individual taking proof)
TO BE USED ONLY WHEN THE ACKNOWLEDGMENT IS MADE OUTSIDE NEW YORK STATE
State (or District of Columbia, Territory, or Foreign Country) of |
ss: |
|||
On the |
day of |
in the year |
, before me, the undersigned, personally appeared |
|
,personally known to me or proved to me on the basis of satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their capacity(ies), and that by his/her/their signature(s) on the instrument, the individual(s), or the person upon behalf of which the individual(s) acted, executed the instrument, and that such individual made such appearance before the undersigned in
the |
. |
|
|
(insert the city or other political subdivision and the state or country or other place the acknowledgment was taken) |
|
|
|
|
|
|
(signature and office of individual taking acknowledgment) |
SATISFACTION OF MORTGAGE –
UNIFORM ACKNOWLEDGEMENT |
DISTRICT: |
||
SECTION: |
|||
|
|||
TITLE NO.: |
BLOCK: |
||
LOT: |
|||
|
PREMISES: |
||
TO |
COUNTY: |
||
|
|
||
|
|
RECORD AND RETURN TO: |
|
|
|
|
|
Satisfaction of Mortgage - Uniform Acknowledgment
RESERVE THIS SPACE FOR USE OF RECORDING OFFICE