ServicesReal Estate Mortgage Discharge
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Why Discharge a Real-Estate Mortgage?
- To clear the mortgage from the property title -
The purpose of the deed of discharge is to not only provide legal proof that the borrower's loan has been repaid, but to also clear or cancel the registration of the mortgage against the title of the encumbered real-estate property. Consequently, the borrower must necessarily obtain the execution of a deed of discharge, before being able to sell or re-mortgage his real-estate property. One way or another, the borrower must get a discharge either now or in the future.
- It is best not to wait too long to get a discharge -
Similarly, anyone who in the near future intends to fully repay a mortgage loan, would be well advised to contact the lawyer, so that a discharge can be prepared and presented to the creditor for signature, as soon as possible after the loan has been paid back.
Dernière mise à jour: 2013-07-08
Last up-date: 2013-07-08