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Bank Discharge Mortgage Conclusion To conclude, mortgage discharges do not take long. Your bank should have the information available, including certificates and titles within 1-3 weeks. The titles and deeds for your property or land will be mailed to you.
Discharging a mortgage is the process of removing the home loan from the title of the property. When you take out a home loan, the lender is added to the property's title until you've repaid the mortgage in full.
In order to make public notification that you have paid your mortgage off, you need to bring the ?original? Discharge of Mortgage provided by the bank to the registry of deeds along with either cash or a check in the amount of $105.00. The Registry will record the Discharge and return it to you immediately.
When the probate court appoints a personal representative, it issues a document called ?Letters of Authority.? This document is proof of the personal representative's legal authority to collect and manage estate property. The personal representative is entitled to collect a fee for the work performed for the estate.
(24) "Interested person", includes heirs, devisees, children, spouses, creditors, beneficiaries, and any others having a property right in or claims against a trust estate or the estate of a decedent, ward, or protected person.
A Massachusetts small estate affidavit, officially titled the ?Voluntary Administration Statement (MPC 170),? is a petition to settle the estate of a deceased person (the decedent) without a formal probate hearing.
Discharging a mortgage has only two responsible parties, the lender and the borrower. The lender handles the paperwork, while the borrower pays the discharge fee.
Some land title offices will require you to work with a lawyer, a notary or a commissioner of oaths to fill out the necessary paperwork for a mortgage release. Other title offices will allow you to do the work yourself, although you may still have to get the documents notarized by a professional.