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USDA Form RD 460-4 (Rev. 3-02) SATISFACTION OF LIEN Position 1 (Chattel Security) Position 5 (Real Estate Security) The United States of America, acting through the United States Department of Agriculture

How to fill out satisfaction of lien usda

How to fill out satisfaction of lien USDA:

1. Gather necessary information: Before filling out the satisfaction of lien form, gather all the relevant information such as the borrower's name, address, and loan number. You will also need the lien release document or a copy of the lien release.
2. Download the form: Visit the USDA's official website or contact your local USDA office to obtain the satisfaction of lien form. Make sure you download the most recent version to ensure accuracy.
3. Fill in borrower's information: Start by entering the borrower's name, address, and contact information. Double-check the accuracy of the information to avoid any potential issues.
4. Provide lien details: Fill in the necessary lien details, including the loan number, date of the lien release, and the official recording information. This information is crucial for the successful completion of the satisfaction of lien form.
5. Explain the reason for the satisfaction: In this section, provide a brief explanation of why the lien is being satisfied. Include any relevant details or circumstances that led to the satisfaction of the lien.
6. Sign and date: Confirm the accuracy of the information provided, then sign and date the satisfaction of lien form. Ensure that all required signatures are included by checking if additional signatures are necessary, such as a notary public or witness.
7. Submit the form: Once you have completed the satisfaction of lien form, make a copy for your records and submit the original to the appropriate USDA office. It is recommended to send the form via certified mail or other traceable methods to ensure delivery and maintain proof of submission.

Who needs satisfaction of lien USDA:

1. Borrowers who have paid off their loan: If you have paid off your USDA loan in full, it is essential to obtain a satisfaction of lien to remove the USDA's claim on your property. This document serves as proof that the lien has been satisfied.
2. Title companies or real estate agents: Title companies and real estate agents often require a satisfaction of lien for properties involved in real estate transactions. This document ensures that the property is free from any encumbrances or liens, providing peace of mind to buyers and lenders.
3. Lenders or financial institutions: Lenders or financial institutions that hold a USDA loan will need the satisfaction of lien to update their records and release any claims on the property. It is a necessary step to ensure the lien is properly released and the loan is considered satisfied.

Remember, it is always advisable to consult with a legal or financial professional to ensure accuracy and compliance with all applicable laws and regulations when filling out the satisfaction of lien USDA form.

For pdfFiller’s FAQs

What is satisfaction of lien usda?

Satisfaction of lien USDA is a legal document filed to release a lien on a property that was placed by the United States Department of Agriculture.

Who is required to file satisfaction of lien usda?

The party who placed the lien or their authorized representative is required to file the satisfaction of lien USDA.

How to fill out satisfaction of lien usda?

To fill out satisfaction of lien USDA, you need to provide information such as the property details, the lien release details, and any other relevant information as required by the USDA.

What is the purpose of satisfaction of lien usda?

The purpose of satisfaction of lien USDA is to formally release the lien on a property, indicating that the debt or obligation secured by the lien has been satisfied or paid off.

What information must be reported on satisfaction of lien usda?

The satisfaction of lien USDA must include details such as the property description, the original lien information, the amount of the debt or obligation, and any other relevant details required by the USDA.

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