The Statewide Title Newsletter and Legal Memorandum

The Statewide Title Newsletter and Legal Memorandum Printable Article - Statewide Title, Inc.

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Issue  21  Article  48
Published:  4/1/1997

Cancellation Penalties Reprise
Chris Burti, Vice President and Legal Counsel

William T. Biggers of Asheville was kind enough to suggest that our forms for bringing an action under G.S. 45-37 should include a provision in the complaint and judgment requiring cancellation of the satisfied instrument or for judicial cancellation. This is an excellent suggestion and we highly commend it to you. He has provided the following suggested language from one of his complaint forms:

That the Trustee be directed and authorized by the Court to cancel the Deed of Trust, or, alternatively, that the Court enter a Judgment to be recorded in the Office of the Register of Deeds for County, N.C. cancelling the Deed of Trust of Public Record.

If the trustee is unavailable it may be advisable to substitute the beneficiary or just ask for judicial cancellation. Other comments that we have received about the article suggest that mailing a copy of the article along with the demand required by the Statute is proving to be effective in getting a satisfactory response.

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