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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.

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.

Satisfactions Generally: Once a mortgage or deed of trust is paid, the holder of the mortgage is required to satisfy the mortgage or deed of trust of record to show that the mortgage or deed of trust is no longer a lien on the property.

Sample Satisfaction of Mortgage That Mortgagee hereby acknowledges full payment and satisfaction of the Mortgage, does hereby surrender the Mortgage as cancelled, releases the property from the lien of the Mortgage, and directs the Clerk of the Circuit Court in and for , to cancel the same record.

A Certificate of Satisfaction You'll receive your deed and officially be the sole owner of your home. Note that some lenders may send the certificate of satisfaction directly to you. If this happens, you'll need to file it with your local government yourself.

What is the difference between a Deed of Reconveyance and Satisfaction of Mortgage? A Deed of Reconveyance states that the debt that was outlined in a Deed of Trust has been fully paid, and a Satisfaction of Mortgage indicates that a mortgage loan that was specified in a Mortgage Agreement has been fully paid.