28 V.I.C. § 143a — Affidavit of satisfaction: notification to secured creditor

(a) If a secured creditor has not submitted for recording a satisfaction of a security instrument within the period specified in section 142b(a), a satisfaction agent acting for and with authority from the landowner may give the secured creditor a notification that the satisfaction agent intends to submit for recording an affidavit of satisfaction of the security instrument. The notification must include:(1) the identity and mailing address of the satisfaction agent;(2) identification of the security instrument for which a recorded satisfaction is sought, including the names of the original parties to, and the recording data for, the security instrument;(3) a statement that the satisfaction agent has reasonable grounds to believe that:(A) the real property described in the security instrument is residential real property;(B) the person to which the notification is being given is the secured creditor; and(C) the secured creditor has received full payment or performance of the secured obligation;(4) a statement that a satisfaction of the security instrument does not appear of record; and(5) a statement that the satisfaction agent, acting with the authorization of the owner of the real property described in the security instrument, intends to sign and submit for recording an affidavit of satisfaction of the security instrument unless, within thirty (30) days after the effective date of the notification:(A) the secured creditor submits a satisfaction of the security instrument for recording;(B) the satisfaction agent receives from the secured creditor a notification stating that the secured obligation remains unsatisfied; or(C) the satisfaction agent receives from the secured creditor a notification stating that the secured creditor has assigned the security instrument and identifying the name and address of the assignee.

(1) the identity and mailing address of the satisfaction agent;

(2) identification of the security instrument for which a recorded satisfaction is sought, including the names of the original parties to, and the recording data for, the security instrument;

(3) a statement that the satisfaction agent has reasonable grounds to believe that:(A) the real property described in the security instrument is residential real property;(B) the person to which the notification is being given is the secured creditor; and(C) the secured creditor has received full payment or performance of the secured obligation;

(A) the real property described in the security instrument is residential real property;

(B) the person to which the notification is being given is the secured creditor; and

(4) a statement that a satisfaction of the security instrument does not appear of record; and

(5) a statement that the satisfaction agent, acting with the authorization of the owner of the real property described in the security instrument, intends to sign and submit for recording an affidavit of satisfaction of the security instrument unless, within thirty (30) days after the effective date of the notification:(A) the secured creditor submits a satisfaction of the security instrument for recording;(B) the satisfaction agent receives from the secured creditor a notification stating that the secured obligation remains unsatisfied; or(C) the satisfaction agent receives from the secured creditor a notification stating that the secured creditor has assigned the security instrument and identifying the name and address of the assignee.

(A) the secured creditor submits a satisfaction of the security instrument for recording;

(B) the satisfaction agent receives from the secured creditor a notification stating that the secured obligation remains unsatisfied; or

(C) the satisfaction agent receives from the secured creditor a notification stating that the secured creditor has assigned the security instrument and identifying the name and address of the assignee.

(b) A notification under subsection (a) must be sent by a method authorized by section 141b that provides proof of receipt to the secured creditor’s address for giving a notification for the purpose of requesting a payoff statement or, if the satisfaction agent cannot ascertain that address, to the secured creditor’s address for notification for any other purpose.