Legal Question in Real Estate Law in Florida

Does and Assignment of Mortgage trump a Satisfaction?

I purchased a property about 10 years ago. I obtained a mortgage for the purchase.

3 years later I was able to pay off the mortgage in full. My mortgage company recorded a satisfaction of mortgage.

I now have the house for sale and was going through public records to make sure everything regarding the home had been properly recorded.

I noticed an ''assignment of mortgage'' had been recorded after I paid off the loan, but BEFORE my satisfaction was recorded from my original loan company.

IE: I paid off my loan in March. There is a notarized satisfation dated for the same month. However the satisfaction was not recorded until June.

The assignment is recorded and dated in May.

I spoke to the mortgage company that gave me the satisfaction and they said it was fine, because it was notarized and dated before the assignment was recorded. They claim the assignment was a mistake.

I guess I am trying to figure out if I need to get the company the mortgage was assigned to, to give me a satisfaction also.

Is my satisfaction good, because it is notarized and dated before the assignment? Or does the recording date apply?


Asked on 3/09/07, 12:54 am

2 Answers from Attorneys
David Slater David P. Slater, Esq.

Re: Does and Assignment of Mortgage trump a Satisfaction?

This would appear to be a coud on title, but ask a title company.

Read more
Answered on 3/09/07, 4:39 am
Joel Bello Joel Bello, P.A.

Re: Does and Assignment of Mortgage trump a Satisfaction?

It may be a read flag or cloud on the title, but if the sequence of events as you described above occurred in said fashion, you should be o.k. Check with the title company and have them review in more detail. They may indeed after all is said and done request some kind of release from one or both mortgage companies.

Read more
Answered on 3/09/07, 9:43 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in Florida