Define Fillable Fields In Legal Florida Satisfaction Of Mortgage Forms For Free

In a nutshell, a satisfaction of mortgage is a document signed by your lender stating that you fully paid off your mortgage and that the mortgage is no longer a lien on the property. To learn more about the Florida Statutes relating to mortgage satisfactions, visit: .flsenate.gov/Laws/Statutes/2011/Chapter701/All.

How do you get a Satisfaction of Mortgage? A Satisfaction of Mortgage is issued by the lender after they have received the final mortgage payment from the borrower. It's signed by the mortgagee (in the presence of a witness in some states and counties) and then notarized by a registered notary public.

The lender is required under Florida law to prepare a Florida Satisfaction of Mortgage, which must then be recorded with the clerk of the court in the county where the property is located. A notice of the filing must also be shared with the borrower.

The lender has a legal obligation to draft, notarize, and file a Florida Satisfaction of Mortgage. While the final payment satisfies the borrower's debt, it does not automatically clear the property title of the lien since the lien is a part of the public record.

Primary tabs. A satisfaction of mortgage is a document that proves the borrower has paid off the mortgage in full, freeing the loan's lien on the property and giving the title to the borrower.

In addition the following information should be included: The Payee Name. The Owner(s) of the mortgage holder. Total amount of mortgage. Mortgage date of execution. Full and legal description of the property to include tax parcel number. Acknowledgement that all payments have been made in full.