NOTICE OF STATUTORY CHANGES TO SATISFACTION METHODS
NC Session Law 2005-123 (Senate Bill 734)
Satisfaction of Mortgages and Deeds of Trust
Viewable at:
http://www.ncga.state.nc.us/Sessions/2005/Bills/Senate/HTML/s734V5.html
Simplified satisfaction forms as outlined in statute will reduce rejections
Old Certificate of Satisfaction and Notice of Satisfaction forms are still valid but Affidavit of Lost Note no longer required
Registers no longer required to verify reference information on satisfaction documents
Presentation of original security document accompanied by original note with endorsement of payment is still a valid form of cancellation
SB 734 simplifies verification of information in notary by registers of deeds
Returned documents will no longer contain:
Statement of cancellation signed by register of deeds
Certification of acknowledgment signed by register of deeds
There continues to be no fee for satisfaction documents.
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