§ 45-36.20. Trustee's satisfaction of deed of trust: content and effect. - North Carolina Statutes

§ 45‑36.20.  Trustee'ssatisfaction of deed of trust: content and effect.

(a)        Upon recording, atrustee's satisfaction substantially complying with the requirements of thissection constitutes a satisfaction of the deed of trust described in thetrustee's satisfaction.

(b)        The recording of atrustee's satisfaction does not by itself extinguish any liability of a personfor payment or performance of the secured obligation.

(c)        This sectionapplies only if the security instrument is a deed of trust. This section is notexclusive. Deeds of trust may also be satisfied of record by methods other thanthe filing of a trustee's satisfaction.

(d)        Document is atrustee's satisfaction of a deed of trust if it complies with all of thefollowing:

(1)        Identifies the originalparties to the deed of trust, the recording data for the deed of trust, and theoffice in which the deed of trust is recorded.

(2)        States that theperson signing the trustee's satisfaction is then serving as trustee orsubstitute trustee under the terms of the deed of trust.

(3)        Contains languageterminating the effectiveness of the deed of trust.

(4)        Is signed by thetrustee or substitute trustee then serving under the terms of the deed of trustand acknowledged as required by law for a conveyance of an interest in realproperty.

(e)        The register ofdeeds shall accept for recording a trustee's satisfaction of a deed of trust,unless:

(1)        The trustee'ssatisfaction is submitted by a method or in a medium not authorized forregistration by the register of deeds under applicable law; or

(2)        The trustee'ssatisfaction is not signed by the trustee or substitute trustee andacknowledged as required by law for a conveyance of an interest in realproperty. The register of deeds shall not be required to verify or make inquiryconcerning (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 doso. (2005‑123,s. 1.)