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Virginia

Virginia

In Virginia, you must use a Deed of Reconveyance instead of a Satisfaction of Mortgage. Please use our Deed of Reconveyance contract.
Frequently Asked Questions

How is a Deed of Reconveyance different from a Satisfaction of Mortgage?A Deed of Reconveyance is a document which transfers title in the property back to the borrower from the Trustee and it is used to acknowledge that the borrower has fully paid what he or she owed under a Deed of Trust. A Satisfaction of Mortgage is used to acknowledge the same as a Mortgage agreement.

A Satisfaction of Mortgage is a document signed by a Mortgagee acknowledging that a Mortgage has been fully paid and that the Mortgage is no longer a lien on the property. In order to clear the title to the real property owned by the Mortgagor, the Satisfaction of Mortgage document must be recorded with the County Recorder or Recorder of Deeds. If the Mortgagee fails to record a satisfaction within the set time limits, the Mortgagee may be responsible for damages set out by statute.

In essence, the Deed of Reconveyance and Satisfaction of Mortgage both serve the same function, which is to show that the borrower has repaid the loan fully and that the lender has no further interest in the property.
Which states use a Deed of Reconveyance and which states use a Mortgage Satisfaction?The following states must use a Mortgage Satisfaction: Alabama, Arkansas, Connecticut, Delaware, Florida, Hawaii, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Michigan, Minnesota, New Hampshire, New Jersey, New Mexico, New York, North Dakota, Ohio, Pennsylvania, Rhode Island, South Carolina, South Dakota, Vermont, and Wisconsin.

The following states must use a Deed of Reconveyance: Alaska, Arizona, California, District of Columbia, Georgia, Mississippi, Missouri, Nevada, North Carolina, and Virginia.

The following states may use either a Mortgage Satisfaction or a Deed of Reconveyance: Colorado, Idaho, Illinois, Iowa, Maryland, Montana, Nebraska, Oklahoma, Oregon, Tennessee, Texas, Utah, Wyoming, Washington, and West Virginia.

Your Satisfaction of Mortgage

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This document prepared by (and after recording returned to):
Name: __________
Firm/Company:__________
Address: __________
Phone: __________
Assessor's Property Tax Parcel/Account Number: __________

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Above this line reserved for official use only

SATISFACTION OF MORTGAGE

_________________________ of _________________________ (the "Mortgagee"), does hereby certify and declare that the owner and holder of that certain mortgage bearing the date December 8, 2016 executed by _________________________ of _________________________ (the "Mortgagor") to secure payment of the principal sum of $0.00 dollars and interest, and recorded at the Office of the Register of Deeds of __________, Virginia on December 8, 2016, that formerly encumbered the described real property: ___________________________________________________________________________________________________________________________ which was recorded in ___________________________________________________________________________________________________________________________ has been FULLY SATISFIED AND DISCHARGED.

IN WITNESS WEREOF the Mortgagee has duly affixed his signature under hand and seal on the 8th day of December, 2016.

SIGNED, SEALED, AND DELIVERED
in the presence of:


______________________________
WITNESS:
   

_______________________
_________________________

     

NOTARY ACKNOWLEDGMENT

COMMONWEALTH OF VIRGINIA

The foregoing Instrument was acknowledged before me this 8th day of December, 2016, by _________________________.



________________________________
Notary Public

My commission expires: _____________

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