Escrow & Title
In Mississippi, when a deed of trust is fully paid off, the lender must:
ADo nothing since the borrower knows the loan is paid
BExecute and deliver a 'release of deed of trust' or 'satisfaction of mortgage' to the borrower, who should promptly record it to clear the lien from title✓ Correct
CFile a notice with MREC
DContact the county assessor to adjust the property tax
Explanation
When a deed of trust or mortgage is satisfied, the lender must provide a release or satisfaction document to the borrower. The borrower should promptly record this release with the county chancery clerk to clear the lien from the title record. Unrecorded releases create title problems in future sales.
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