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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.
How do I remove someone from my mortgage without refinancing?
My mortgage has been paid off, how is the release handled? Generally, your mortgage company will present the information pertaining to your paid-off loan to the Public Trustee for release. After recording the release, this lien will no longer be attached to your property.
What is the difference between a mortgage discharge and a mortgage release?
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.
What is the difference between a release and a discharge?
Generally, your mortgage company will present the information pertaining to your paid-off loan to the Public Trustee for release. After recording the release, this lien will no longer be attached to your property.
What is the difference between a mortgage release and a discharge?
A release completely frees you from the rights held by your financial institution once your mortgage is fully paid off. On the other hand, a discharge only partially relieves you from the claims your creditor has on your property.
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The purpose of this document is to provide issuers the opportunity to request the release of mortgage documents held by the document custodian. The information
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