When a mortgage has been paid in full, it is customary for the borrower to request a Satisfaction of Mortgage. When this happens, the current lender will record a "Satisfaction of Mortgage", which notifies the world the lien has been released, cancelled, and discharged from the subject property. Occasionally the lender does not or can not record a Satisfaction of Mortgage. This can be detrimental to the borrower, adversely affecting refinancing, selling and credit ratings- just to name a few. After 60 days an Attorney or Licensed Title Agent can use this "Satisfaction Affidavit" to satisfy the mortgage.

18-40-104 (e) If a person receiving satisfaction does not, within sixty (60) days after being requested, acknowledge satisfaction as stated in subsection (a) of this section or fails to cause the trustee to reconvey the property as stated in subsection (c) of this section, then, in addition to the rights provided in subsection (d) of this section, a satisfaction affidavit may be recorded in the county where the lien is recorded which shall have the same effect as an acknowledgment of satisfaction as stated in subsection (b) of this section or a reconveyance of the property as stated in subsection (c) of this section.

(f) A satisfaction affidavit may be executed and recorded by a:

(1) Licensed attorney who prepared the original mortgage or deed of trust;

(2) Licensed attorney who represents the person making or having received satisfaction; or

(3) Licensed title agent employed by a title company that tendered the satisfaction on behalf of the person making satisfaction.

(g) A satisfaction affidavit shall:

(1) Be sworn to and acknowledged before a person authorized to administer an oath under the laws of this state;

(2) Conspicuously identify in its title that it is a "Satisfaction Affidavit"; and

(3) Contain the following information concerning the satisfaction:

(A) The names of all parties to the original instrument;

(B) The recording information, including the recording date of the original instrument;

(C) The date of payment and the amount paid to satisfy the indebtedness; and

(D) That more than sixty (60) days have elapsed since the request for the acknowledgement of satisfaction.

(Arkansas Satisfaction Affidavit Package includes form, guidelines, and completed example)

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