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This form is used by the mortgagee/lender or representative to release a mortgage that has been satisfied/paid in full. (If a person receiving satisfaction does not, within sixty (60) days after being requested, acknowledge satisfaction as stated in subsection (a) of this section or request the trustee to reconvey the property as stated in subsection (c) of this section, he or she shall forfeit to the party aggrieved any sum not exceeding the amount of the mortgage money, to be recovered by a civil action in any court of competent jurisdiction.) (Ark Statute 18-40-104(d))
[If a mortgagee or his or her executor, administrator, or assignee receives full satisfaction for the amount due on any mortgage, then at the request of the person making satisfaction, the mortgagee shall acknowledge satisfaction of the amount due on the mortgage on the margin of the record in which the mortgage is recorded.] [18-40-104(a)]
For use in Arkansas only.
Deeds.com Arkansas Satisfaction of Mortgage Forms Have Been Updated as Recently as Wednesday August 17, 2022
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