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.
To view an example of a Satisfaction of Security Instrument form, click here. 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.
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.
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.
When a security instrument (Deed of Trust, Mortgage) is paid off, no new deed is automatically filed. In Rockingham County, NC, when nothing on your deed changes when you pay off a security instrument. A copy of your satisfaction is often not mailed to you, though you can get a copy of it off the e-vault or visit the office.