§ 45-36.10. Content and effect of satisfaction. - North Carolina Statutes

§ 45‑36.10.  Content andeffect of satisfaction.

(a)        A document is asatisfaction of a security instrument if it does all of the following:

(1)        Identifies the typeof security instrument, the original parties to the security instrument, therecording data for the security instrument, and the office in which thesecurity instrument is recorded.

(2)        States that theperson signing the satisfaction is the secured creditor.

(3)        Reserved.

(4)        Contains languageterminating the effectiveness of the security instrument.

(5)        Is signed by thesecured creditor and acknowledged as required by law for a conveyance of aninterest in real property.

(b)        The register ofdeeds shall accept for recording a satisfaction of a security instrument,unless one of the following applies:

(1)        The document issubmitted by a method or in a medium not authorized for registration by theregister of deeds under applicable law.

(2)        The document is notsigned by the secured creditor and acknowledged as required by law for aconveyance of an interest in real property. The register of deeds shall not berequired to verify or make inquiry concerning (i) the truth of the mattersstated in any satisfaction document, or (ii) the authority of the personexecuting any satisfaction document to do so.

(c)        The recording of asatisfaction of a security instrument does not by itself extinguish anyliability of a person for payment or performance of the secured obligation. (2005‑123, s. 1.)