Satisfaction, Cancellation or Release of Mortgage Package - District of Columbia 2025

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As a result, a mortgage lien release is required to free the title and the borrower from that lien. The release does not erase the lien. Instead, the release is filed as a subsequent and corresponding instrument in the public record. It may also be called a satisfaction or deed reconveyance.
Discharging a mortgage removes the loan from the propertys title. This typically happens when you pay off your loan, remortgage the house or sell. If you plan to discharge your mortgage, contact your lender to get started.
A release is synonymous to a satisfaction of mortgage since they indicate the borrower has repaid their mortgage loan in full and the lien on the property has been lifted.
Discharging after paying off your mortgage If thats the case, you need to pay it off and close it before getting a mortgage discharge. You may not want to discharge your mortgage if you plan on using your home as security for a loan or line of credit with the same lender. This includes options such as HELOC s.
A recorded mortgage must be discharged by a certificate signed by the mortgagee, his personal representatives or assigns, acknowledged or proved and certified as prescribed by the chapter on recording transfers, stating that the mortgage has been paid, satisfied, or discharged.

People also ask

A satisfaction of mortgage is a document that proves the borrower has paid off the mortgage in full, freeing the loans lien on the property and giving the title to the borrower.
The general rule is that the satisfaction must be in proper written format and recorded to provide notice of the satisfaction. If the lender fails to record a satisfaction within set time limits, the lender may be responsible for damages set by statute for failure to timely cancel the lien.
A quitclaim deed is used to transfer interest in real property. It transfers property rights or ownership of real property without any warranties on the title. It is a non-warranty deed.

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