North Carolina General Statutes 45-36.21. Trustee’s satisfaction of deed of trust: form
Terms Used In North Carolina General Statutes 45-36.21
- Deed: The legal instrument used to transfer title in real property from one person to another.
- following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Trustee: A person or institution holding and administering property in trust.
(a) Standard Form. – No particular phrasing is required for a trustee‘s satisfaction of a deed of trust. The following form, when properly completed, is sufficient to satisfy the requirements of N.C. Gen. Stat. § 45-36.20:
“TRUSTEE’S SATISFACTION OF DEED OF TRUST
(N.C. Gen. Stat. § 45-36.20; N.C. Gen. Stat. § 45-37(a)(7))
The undersigned is now serving as the trustee or substitute trustee under the terms of the deed of trust identified as follows:
Original Grantor(s): (Identify original grantor(s) or trustor(s))
Original Secured Party(ies): (Identify the original beneficiary(ies) or secured party(ies) in the deed of trust)
Recording Data: The deed of trust is recorded in Book ____ at Page ____ or as document number ________ in the office of the Register of Deeds for __________ County, North Carolina.
This satisfaction terminates the effectiveness of the deed of trust.
Date: ______________ _________________________________
(Signature of trustee or substitute trustee)
[Acknowledgment before officer authorized to take acknowledgments]”
(b) Alternate Form. – A trustee and secured creditor who would like to indicate that the underlying obligation secured by the deed of trust has been extinguished may use the following form, which, when properly completed, is also sufficient to satisfy the requirements of N.C. Gen. Stat. § 45-36.20:
“TRUSTEE’S SATISFACTION OF DEED OF TRUST
AND
CREDITOR’S RELEASE
(N.C. Gen. Stat. § 45-36.20; N.C. Gen. Stat. § 45-37(a)(7))
The undersigned is now serving as the trustee or substitute trustee under the terms of the deed of trust identified as follows:
Original Grantor(s): (Identify original grantor(s) or trustor(s))
Original Secured Party(ies): (Identify the original beneficiary(ies) or secured party(ies) in the deed of trust)
Recording Data: The deed of trust is recorded in Book ____ at Page ____ or as document number ________ in the office of the Register of Deeds for __________ County, North Carolina.
This satisfaction terminates the effectiveness of the deed of trust.
Date: ______________ _________________________________
(Signature of trustee or substitute trustee)
[Acknowledgment before officer authorized to take acknowledgments]
The obligation secured by the deed of trust has been extinguished.
Date: ______________ _________________________________
(Signature of secured creditor)
[Acknowledgment before officer authorized to take acknowledgments]”.
(2005-123, s. 1; 2012-150, s. 2.)