Document background
The Mortgage Lien Release Document is a crucial instrument in Canadian real estate and lending practices, used when a borrower has fully satisfied their mortgage obligations or when a lender agrees to release their security interest in a property. This document must be prepared in accordance with provincial regulations and typically requires registration with the local land registry office. The release document includes specific details about the original mortgage, property description, and parties involved, with formal statements confirming the discharge of the security interest. When properly executed and registered, this document removes the mortgage lien from the property's title, allowing the owner to prove clear title or secure new financing. The document's preparation and filing requirements vary by province, but all versions must comply with local property laws and registration requirements.
