Ms. Stoner obtained a loan from Rowan County as part of our
rehabilitation program back in 2004 in the amount of $28,710.00. The
general term was that she not sell the property within 8 years, and Ms. Stoner
owned the property from 2004 until her death last year in 2021. The children of
Dorothy D. Stoner are now trying to sell the property out of her estate and
need this old lien cancelled to clear up the title.
This should have been cancelled in 2012, but I doubt that
Ms. Stoner ever thought to reach out and ask for that to be done.
It is my opinion that the County should file the
Satisfaction and cancel the deed of trust because the terms have been met in
that Ms. Stoner held the property for more than the 8 years required for the
loan to be forgiven.
Motion to approve the attached Satisfaction form and
authorize the Finance Director or County Attorney to sign the Satisfaction.
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