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Commonly Asked Questions about Release of Mortgage Legal Forms

A release of mortgage, commonly known as a discharge of mortgage, is a legal document issued by the lender acknowledging that the mortgage debt is settled.
The discharge, on the other hand, is an official act used to officially remove the mortgage on a property. After the borrower has repaid his or her loan and received a mortgage discharge, the financial institution must then issue a release to indicate that the property is free of any encumbrance or mortgage.
mortgage. To put simply, the deed is the legal document that proves who holds title to a property, while a mortgage is an agreement between a financial lender and borrower to repay the amount borrowed to purchase a home.
A deed of release is a legal document formed between two parties that brings a dispute or an agreement to an end, and can in fact can be used to prevent a dispute from arising in the future.
You should have received your deed at the closing upon purchasing the property. Unlike a car title, a new deed is not generated when you pay off your mortgage. The lender will record a Release/Satisfaction of Mortgage with our office to prove the mortgage has been paid.
A release of mortgage, commonly known as a discharge of mortgage, is a legal document issued by the lender acknowledging that the mortgage debt is settled. It effectively releases the property from the lien, allowing homeowners clear ownership.
When the loan is paid off, the Lender is supposed to record a statement that the loan was paid on the property. This is a release (called a Reconveyance form in California).