Satisfaction of Mortgage
From LawDepot Law Library
Definition of "Satisfaction of Mortgage"
A Satisfaction of Mortgage is a document signed by a mortgagee acknowledging that a mortgage has been fully paid by the mortgagor and that the mortgage is no longer a lien on the property. In order to clear the title to the real property owned by the mortgagor, the Satisfaction of Mortgage document must be recorded with the County Recorder or Recorder of Deeds. If the mortgagee fails to record a satisfaction within the set time limits, the mortgagee may be responsible for damages set out by statute.
Satisfaction of Mortgage Resources
- Satisfaction of Mortgage - FAQ - Provides general information, as well as information specific to LawDepot's automated Satisfaction of Mortgage form.
- LawDepot's Automated Satisfaction of Mortgage Form
