45-36.20. Trustee's satisfaction of deed of trust: content and effect.
(a) Upon recording, a trustee's satisfaction substantially complying with the requirements of this section constitutes a satisfaction of the deed of trust described in the trustee's satisfaction.
(b) The recording of a trustee's satisfaction does not by itself extinguish any liability of a person for payment or performance of the secured obligation.
(c) This section applies only if the security instrument is a deed of trust. This section is not exclusive. Deeds of trust may also be satisfied of record by methods other than the filing of a trustee's satisfaction.
(d) Document is a trustee's satisfaction of a deed of trust if it complies with all of the following:
(1) Identifies the original parties to the deed of trust, the recording data for the deed of trust, and the office in which the deed of trust is recorded.
(2) States that the person signing the trustee's satisfaction is then serving as trustee or substitute trustee under the terms of the deed of trust.
(3) Contains language terminating the effectiveness of the deed of trust.
(4) Is signed by the trustee or substitute trustee then serving under the terms of the deed of trust and acknowledged as required by law for a conveyance of an interest in real property.
(e) The register of deeds shall accept for recording a trustee's satisfaction of a deed of trust, unless:
(1) The trustee's satisfaction is submitted by a method or in a medium not authorized for registration by the register of deeds under applicable law; or
(2) The trustee's satisfaction is not signed by the trustee or substitute trustee and acknowledged as required by law for a conveyance of an interest in real property. The register of deeds shall not be required to verify or make inquiry concerning (i) the truth of the matters stated in any trustee's satisfaction, or (ii) the authority of the person executing any trustee's satisfaction to do so. (2005-123, s. 1.)
Structure North Carolina General Statutes
North Carolina General Statutes
Chapter 45 - Mortgages and Deeds of Trust
§ 45-36.2 - Obligation of good faith.
§ 45-36.5 - Notificationmanner of giving and effective date.
§ 45-36.6 - Document of rescissioneffect; liability for wrongful recording.
§ 45-36.7 - Payoff and short-pay statements; request and content.
§ 45-36.7A - Credit suspension directives.
§ 45-36.8 - Understated payoff statement or short-pay statementcorrection; effect.
§ 45-36.9 - Secured creditor to submit satisfaction or release for recording; liability for failure.
§ 45-36.10 - Content and effect of satisfaction.
§ 45-36.11 - Satisfactionform.
§ 45-36.12 - Limitation of secured creditor's liability.
§ 45-36.13 - Eligibility to serve as satisfaction agent.
§ 45-36.14 - Affidavit of satisfactionnotification to secured creditor.
§ 45-36.15 - Affidavit of satisfactionauthorization to submit for recording.
§ 45-36.16 - Affidavit of satisfactioncontent.
§ 45-36.17 - Affidavit of satisfactionform.
§ 45-36.18 - Affidavit of satisfactioneffect.
§ 45-36.19 - Liability of satisfaction agent.
§ 45-36.20 - Trustee's satisfaction of deed of trustcontent and effect.
§ 45-36.21 - Trustee's satisfaction of deed of trustform.
§ 45-36.22 - Partial releasecontent and effect; form.
§ 45-36.23 - Obligation releasecontent and effect.
§ 45-36.24 - Expiration of lien of security instrument.
§ 45-37 - Satisfaction of record of security instruments.
§ 45-37.2 - Indexing satisfactions and other documents relating to security instruments.
§ 45-38 - Recording of foreclosure.
§ 45-41 - Recorded deed of release of mortgagee's representative.
§ 45-42 - Satisfaction of corporate mortgages by corporate officers.
§ 45-42.1 - Corporate cancellation of lost mortgages by register of deeds.
§ 45-42.3 - Automatic release of real property from ancillary security instruments.