Satisfaction, Release or Cancellation of Mortgage by Corporation - Delaware 2025

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A deed of reconveyance, also known as a satisfaction of mortgage, is a document that proves youve paid off your mortgage. The deed of reconveyance releases the lien the mortgage lender placed on your property. Youll need this document to prove a clear title when you sell your home.
Right of rescission. (a) A title loan borrower may rescind a title loan for any reason up to the end of the business day following the day on which proceeds of the loan were disbursed to the borrower.
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.
A release is a relinquishment of a right, which may be given gratuitously or for inadequate consideration, while an and satisfaction is the discharge of a debt or claim by the acceptance of some payment which is agreed to constitute full satisfaction.
Lenders can either: 1) Release the lien and declare the debt paid and settled in full (called a full release and satisfaction) or 2) Release the lien only from the property and still consider you personally liable for any unpaid balance of the loan (lien release only).
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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.

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