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A Mortgage Release lets a lender formally discharge a paid-off mortgage from a property's title in Canada. When you finish paying off your mortgage, this legal document confirms that the lender no longer has any claims against your property. It's also called a "discharge of mortgage" or "mortgage satisfaction piece" in some provinces.

Your lender must file this release with the provincial land registry office within 30 days of your final payment. Once registered, it clears the mortgage from your property title, giving you full, unencumbered ownership. The process varies slightly by province, but all Canadian jurisdictions require proper registration to make the release legally binding.

You need a Mortgage Release when you've paid off your mortgage in full and want to clear the lender's interest from your property title. This commonly happens at the end of your mortgage term, when refinancing with a new lender, or during a property sale where you're paying off the existing mortgage.

Most Canadian lenders initiate this process automatically after receiving your final payment. However, if you're selling your property or refinancing, request the release early to avoid closing delays. Some provinces require the release within 30 days of payoff, and getting it filed promptly helps prevent future title complications or legal disputes about property ownership.

• Release Of Mortgage Document: The standard form used across Canadian provinces to clear a mortgage from property title. It includes key sections for property details, original mortgage registration information, and lender certification. Provincial land registries may require specific formatting, but all versions must confirm full payment and the lender's intent to discharge their security interest. Some variations include additional clauses for partial releases, multiple properties, or electronic registration requirements.

• Mortgage Lenders: Banks, credit unions, and financial institutions prepare and file the Mortgage Release after receiving final payment. Their legal departments typically handle the documentation and registration process.
• Property Owners: Homeowners or property investors receive the release after paying off their mortgage. They may need to follow up with lenders to ensure proper filing.
• Real Estate Lawyers: Handle the legal aspects of registration, verify documentation, and ensure proper filing with land registry offices.
• Land Registry Officials: Process and record the Mortgage Release in provincial property records, updating the title to show the property is free from the mortgage.

• Property Details: Gather the legal property description, PIN/PID number, and current registered address from your land title documents.
• Mortgage Information: Collect the original mortgage registration number, date, and amount from your mortgage agreement.
• Payment Verification: Obtain confirmation of final payment and a zero balance statement from your lender.
• Registration Requirements: Check your province's specific land registry formatting rules and fees.
• Document Generation: Use our platform to create a legally-sound Mortgage Release that meets all provincial requirements and includes mandatory elements.
• Signatures: Ensure authorized lender representatives are available to sign and notarize the document.

• Property Identification: Full legal description, municipal address, and land registry identification numbers.
• Mortgage Details: Original registration date, mortgage amount, and registration number in the land registry system.
• Discharge Statement: Clear confirmation that the mortgage is fully paid and the lender releases all claims against the property.
• Lender Information: Legal name and address of the lending institution releasing the mortgage.
• Authorization Section: Names, titles, and signature blocks for authorized lender representatives.
• Notarization Block: Space for witness or notary acknowledgment as required by provincial regulations.
• Registration Information: Required fields for land registry office processing and recording.

A Mortgage Release differs significantly from a Mortgage Agreement in both timing and purpose. While a Mortgage Agreement creates the initial legal obligation between lender and borrower, a Mortgage Release terminates that relationship once the debt is paid.

• Purpose and Timing: Mortgage Agreements establish the terms of lending and borrowing at the start, while Mortgage Releases formally end the arrangement after full payment.
• Legal Effect: A Mortgage Agreement creates a lien on the property, securing the lender's interest. A Mortgage Release removes this lien, clearing the property title.
• Content Focus: Mortgage Agreements detail payment terms, interest rates, and default provisions. Mortgage Releases simply confirm full payment and discharge the lender's claims.
• Registration Requirements: Both need registration, but Mortgage Releases must be filed within 30 days of final payment in most Canadian provinces.