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When your mortgage is paid off, a mortgage discharge should be recorded with the Registry of Deeds to clear your propertys title. A discharge is a document (usually one page) issued by the lender, usually with a title such as Discharge of Mortgage or Satisfaction of Mortgage.
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.
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.
Once all the money has been fully paid back to the lender a Loan Release Form is created and issued to the borrower relieving them from any liability from the note.
When you pay off a mortgage, the original deed of trust is sent back to you by the mortgage holder marked paid or cancelled. This process usually takes up to 60 days, but because deeds are public records, you can check on the progress with your county registrar.
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The release clause, also known as a buyout clause is a contract provision that allows for the freeing of all, or part of a property, through a proportional or full amount of the mortgage being paid. This clause is usually seen in blanket mortgages.
A release deed would typically be executed at a time when your home loan provider grants you a legal certificate that you have fully paid your loan and the lender is freeing the collateral submitted as a security against the loan. An individual can also give up his right in a property through this instrument.
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.
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.
Once the bank has processed the payoff, they will issue a Discharge of Mortgage. This document needs to be recorded at the Registry to show that the mortgage is no longer in effect. You should ask your lender if they will record the discharge or if they will be mailing it to you.

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