A cancellation is a document showing proof that you have paid a deed of trust (instrument that secures the repayment of a sum of money or the performance of other conditions) in full. A recorded cancellation releases the deed of trust from the land records in the county where the property is located. Check with your own attorney for further assistance.There are three different methods for cancelling deeds of trusts and mortgages.
The Three Methods of Cancellation:
|First:||The Trustee or Substitute Trustee may submit a "Trustee's Satisfaction of Deed of Trust". The "Trustee's Satisfaction of Deed of Trust" must be signed by the Trustee or Substitute Trustee and acknowledged by a Notary Public and contain all the information required by G.S. 45-36.20 and G.S. 45-37(a)(7).|
|Second:||The secured creditor in the security instrument may sign a "Satisfaction of Security Instrument". The "Satisfaction of Security Instrument" must be signed by the secured party and acknowledged by a Notary Public and contain all the information required by G.S. 45-36.10 and G.S. 45-37(a)(7).|
There is no fee for recording cancellation documents.The following forms may be downloaded for your use.·
Forms are in PDF format. You must download and install the Adobe Acrobat Reader to view/print these files.
Note: Forms should be printed on legal paper (8.5" x 14").
Click here to download the Reader.