Satisfaction or release in Delaware, Powell, Ohio
A satisfaction (also called a release, reconveyance or discharge) is recorded by the lender after a loan is paid, to take its mortgage or deed of trust off the title. In Delaware, Powell, satisfactions and releases are recorded with the Delaware County Recorder, and a HeritageDeed title search lists them for the property.
How Delaware, Powell records it
Within ninety days after a mortgage is satisfied, the mortgagee must record a release of it with the county recorder (R.C. 5301.36), so a mortgage with no recorded release is still of record.
The Delaware County Recorder's records carry every party to a document, the consideration (the loan amount on a mortgage), the lot and subdivision, often the Auditor's parcel number, and marginal notations that cross-reference a mortgage and its discharge.
What it means for a buyer or bidder
Matching every loan to its satisfaction is the core of a lien search: an unmatched loan is still open of record.
Does a title search find it in Delaware, Powell?
Yes. The Delaware, Powell report covers: Mortgages with their recorded amounts, discharges, assignments and liens recorded with the Delaware County Recorder; Each mortgage's discharge, matched by the Recorder's cross-reference.
More about Delaware, Powell records
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