Philadelphia County Satisfaction of Mortgage Form

Additional Pennsylvania and Philadelphia County documents included at no extra charge:

Where to Record Your Documents

---

Cities and Jurisdictions in Philadelphia County

Properties in any of these areas use Philadelphia County forms:

• Philadelphia

---

The Mortgagee/Lender generally has 60 days to record a satisfaction to avoid penalty.

((1)If, within 60 days of the mortgagee's receipt of:

(i)payment of the entire mortgage obligation and all required satisfaction and recording costs; and

(ii)the first written request by the mortgagor for the satisfaction piece delivered and in substantially the form described in this section,

the mortgagee fails to present for recording to the office where the mortgage was recorded a satisfaction piece as described in section 5-1 or the mortgage is not otherwise satisfied, the mortgagee shall forfeit and pay to the mortgagor a penalty in a sum not exceeding the original loan amount.

(2)In any successful action to recover penalties pursuant to this section, the mortgagee shall reimburse the mortgagor for costs of the action, including the mortgagor's reasonable attorney fees.

(3)Any action to enforce the provisions of this section, including any action to recover amounts due under this section, shall be brought and maintained in the individual names and shall be prosecuted by persons entitled to recover under the terms hereof and not in a representative capacity.

(4)An action under section 6-2 shall be the exclusive remedy for damages for failure of a mortgagee to issue and present for recording a satisfaction piece.

(5)The delivery of a second or subsequent written request by the mortgagor for a satisfaction piece shall not give rise to an additional cause of action under this section.)

(Pennsylvania Statutes Title 21 P.S. Deeds and Mortgages 721-6. Notice to satisfy; damages for failure to satisfy)

For use in Pennsylvania only by mortgagee, assignee, or person entitled to interest, or his, her or their duly authorized attorney or agent.

(Pennsylvania SOM Package includes form, guidelines, and completed example)

Important: Your property must be located in Philadelphia County to use these forms. Documents should be recorded at the office below.

This Satisfaction of Mortgage meets all recording requirements specific to Philadelphia County.

Our Promise

The documents you receive here are guaranteed to meet or exceed the applicable Philadelphia County recording format requirements. If there is a rejection caused by our formatting, we will correct the issue or refund your payment. This guarantee applies to document formatting only and does not extend to information entered by the user, the selection of the form, or the legal effect of the completed document.

Save Time and Money

Get your Philadelphia County Satisfaction of Mortgage form done right the first time with Deeds.com Uniform Conveyancing Blanks. At Deeds.com, we understand that your time and money are valuable resources, and we don't want you to face a penalty fee or rejection imposed by a county recorder for submitting nonstandard documents. We constantly review and update our forms to meet rapidly changing state and county recording requirements for roughly 3,500 counties and local jurisdictions.

4.8 out of 5 - ( 4725 Reviews )