Nebraska Release of Mortgage - Individual

What is Satisfaction of Mortgage? A Satisfaction of Mortgage, also known as a Mortgage Lien Release, is a legal document provided by the mortgagee (financial institution) advising that the mortgage has been paid in full, all terms of the loan have been satisfied and there will no longer be a lien on the property.

When you pay off your loan and you have a mortgage, the lender will send you or the local recorder of deeds or office that handles the filing of real estate documents a release of mortgage.On the other hand, when you have a trust deed or deed of trust, the lender files a release deed.

A deed of release is a legal document that removes a previous claim on an asset.A deed of release might be included when a lender transfers the title of real estate to the homeowner upon satisfaction of the mortgage. A deed of release literally releases the parties from previous obligations.

Often, it is filed directly by the bank or a settlement attorney. However, in some cases, the discharge may be transmitted directly to the person who is paying off the mortgage upon making a final mortgage payment, and that person needs to record the discharge so that clear title can be conveyed to someone else.

Deed: This is the document that proves ownership of a property. It transfers ownership of the property to the grantee, also known as the buyer.Mortgage: This is the document that gives the lender a security interest in the property until the Note is paid in full.

When discharging your mortgage, you are paying your current loan in full. The mortgage we have registered on the title of your property is removed, and we will no longer hold it as security.

Register the discharge of mortgage Once you return the Discharge Authority form, your bank would prepare a Discharge of Mortgage document. This document must be registered at the Land Titles office.

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.Depending on your situation, you may be required to make a financial contribution to receive 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.Depending on your situation, you may be required to make a financial contribution to receive a mortgage release.