Who is the grantor on a satisfaction of mortgage?
The Grantor is any person conveying or encumbering, whom any Lis Pendens, Judgments, Writ of Attachment, or Claims of Separate or Community Property shall be placed on record. The Grantor is the seller (on deeds), or borrower (on mortgages). The Grantor is usually the one who signed the document.
Who is the grantor and grantee on a release of mortgage?
Grantors and Grantees
In mortgages and car leases, the grantor is the consumer and the grantee is the lender. In judgment and tax liens, the grantor is the debt holder and the grantee is either the government or the victorious plaintiff in a lawsuit.
How do I fill out a satisfaction of mortgage form?
In addition the following information should be included:
- The Payee Name.
- The Owner(s) of the mortgage holder.
- Total amount of mortgage.
- Mortgage date of execution.
- Full and legal description of the property to include tax parcel number.
- Acknowledgement that all payments have been made in full.
Is the mortgagee the grantor or grantee?
A mortgagor/mortgagee is another example of a grantor/grantee. Here the lender originates the mortgage while accepting a security interest in the property, and the borrower accepts its terms and agrees to repay.
Who is grantor and grantee?
A grantee is the recipient of something, such as a college grant or real estate property. A grantor is a person or entity that transfers to another person or entity the interest or ownership rights to an asset. Legal documents, such as deeds, detail the transfer of assets between grantors and grantees.
Who is the grantee on a certificate of satisfaction?
The party receiving the property is the grantee. Either party can be an individual, a business entity, or a partnership. The contract between the grantor and grantee establishes the terms of transfer between the parties.
Who is the grantor and grantee on a deed of trust?
The grantor is the person who is giving away the title or interest in the real property – the borrower. The grantee is the person receiving the property.
Is grantor and trustee the same person?
A grantor is the entity that establishes a trust and legally transfers control of those assets to a trustee, who manages it for one or more beneficiaries. In certain types of trusts, the grantor may also be the beneficiary, the trustee, or both.
Who is the grantee in a reconveyance?
A deed of reconveyance is a document that transfers a property’s title from a mortgage lender to the borrower, indicating that the borrower has fulfilled their obligation to repay the loan and now owns the property.
What is a satisfaction of mortgage document?
A satisfaction of mortgage is a document serving as evidence that you’ve paid off your mortgage in full, releasing the lien associated with the loan from your property and transferring the title to you.
What is a satisfaction letter?
The most important of these is the Satisfaction of Mortgage, sometimes referred to as a letter of satisfaction, which the lender sends to the borrower to indicate the home loan is paid in full.
Who is responsible for recording the mortgage process?
In order to clear the title to the real property owned by the mortgagor, the Satisfaction of Mortgage document must be recorded with the County Recorder or Recorder of Deeds. If the mortgagee fails to record a satisfaction within the set time limits, the mortgagee may be responsible for damages set out by statute.