CANCELLATIONS
EFFECTIVE OCTOBER 1, 2005
The original Deed of Trust/Mortgage or Security Instrument and original Promissory Note are submitted to the Register of Deeds. Both must be marked “Paid and Satisfied” and must be signed and dated by the appropriate party. Upon presentation of the required documentation, the Register prepares and records a record of satisfaction.
Deeds of Trust/Mortgages can be satisfied on the record with a simple instrument prepared and signed by the secured creditor or trustee and acknowledged. Upon presentation of this instrument, the Register records it.
Borrowers’ attorneys can prepare and record affidavits of satisfaction when secured creditors fail to provide satisfactions. The affidavit must be acknowledged. Upon presentation of this instrument, the Register records it.
Examples of forms:
Secured Creditor: G.S.45-36.10; G.S.45-37(a)(7)
Trustee: G.S.45-36.20; G.S.45-37(a)(7)
Affidavit: G.S.45-36.17
There is no fee for recording cancellation documents