Escrow & Title
When a Georgia borrower pays off their mortgage (security deed), the lender must execute and deliver a:
ACertificate of title
BDeed of release (satisfaction) conveying title back to the borrower✓ Correct
CNew deed of trust
DHUD-1 settlement statement
Explanation
When a Georgia security deed is paid in full, the lender executes a deed of release (also called a cancellation or satisfaction) that reconveys legal title back to the borrower and releases the lender's interest in the property.
Related Georgia Escrow & Title Questions
- In Georgia, a security deed (also called a deed to secure debt) differs from a mortgage because:
- A 'deed of release' in Georgia is used to:
- In Georgia, a 'judgment creditor' who obtains a lien against property through a court judgment must do what to enforce collection?
- Recording a deed in Georgia protects a buyer by providing:
- In Georgia, who is responsible for property taxes at closing?
- A title commitment (binder) issued by a title company represents:
- A 'lis pendens' recorded against a Georgia property means:
- A 'subordination agreement' in Georgia allows:
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