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What is a Mortgage Release? A Mortgage Release is where you, the homeowner, voluntarily transfer the ownership of your property to the owner of your mortgage in exchange for a release from your mortgage loan and payments.
Your Satisfaction is recorded under the names of the borrower/mortgagor on the original loan.
What is Satisfaction of Mortgage? A Satisfaction of Mortgage, also known as a Mortgage Lien Release, is a legal document provided by the mortgagee (financial institution) advising that the mortgage has been paid in full, all terms of the loan have been satisfied and there will no longer be a lien on the property.
A Satisfaction of Mortgage is issued by the lender after they have received the final mortgage payment from the borrower. Its signed by the mortgagee (in the presence of a witness in some states and counties) and then docHubd by a registered notary public.
A Satisfaction of Mortgage, sometimes called a release of mortgage, is a document that acknowledges that the terms of a Mortgage Agreement have been satisfied, meaning that a borrower has repaid their mortgage loan to the lender.
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When your mortgage is paid off you need to clear the title of the property by discharging the mortgage. This is done by recording a document at the Registry of Deeds usually called a Discharge of Mortgage or a Satisfaction of Mortgage.
A satisfaction of mortgage is a document serving as evidence that youve paid off your mortgage in full, releasing the lien associated with the loan from your property and transferring the title to you. This document typically includes: Borrower and lender contact information.
Once youve paid off your outstanding mortgage debt, the lender must prepare and issue a release of mortgage. This document officially discharges you from the debt obligation and removes the lien against the property.
Where do I record my Satisfaction of Mortgage when complete? The Satisfaction of Mortgage should be filed with the County Recorder or City Registrar. This will acknowledge and document, that the previously obtained mortgage has been paid in full and there is no longer a lien on the property.
This release of mortgage is recorded or filed and gives notice to the world that the lien is no more. On the other hand, when you have a trust deed or deed of trust, the lender files a release deed. With a deed of trust, you temporarily give control of the title to your property to the lender for security purposes.

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