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A Mortgage Release is a legal document that ends your obligations under a home loan in Malaysia. When your bank or financial institution formally releases you from a mortgage, they're confirming that you've fully paid off your loan and now own your property free and clear.

Under Malaysian banking regulations, lenders must provide this release within 30 days of final payment. The document removes the bank's claim on your property, letting you sell, transfer, or take out new loans against it. You'll need to register this release with the land office to officially update your property records and confirm your unencumbered ownership.

You need a Mortgage Release when you've fully paid off your home loan in Malaysia. Banks typically prepare this document automatically after receiving your final payment, but you might also request one when refinancing with a different lender or selling your property.

Getting this release is essential before major property transactions. Malaysian law requires it for transferring ownership, taking out new loans, or developing the land. If you're planning to sell, your buyer's bank will need proof that your previous mortgage is cleared. Real estate agents and conveyancing lawyers often ask for this document early in the sale process to avoid delays.

• Standard Bank Release: The most common type, issued when you've fully paid your home loan. It includes basic discharge details and property information.
• Partial Release: Used when releasing only a portion of mortgaged property, common in development projects or land subdivisions.
• Refinancing Release: Contains additional clauses for simultaneous discharge and new mortgage registration, typically used when switching lenders.
• Electronic Release: A digitally processed version accepted by Malaysian land offices, featuring secure authentication codes.

• Banks and Financial Institutions: Prepare and issue the Mortgage Release after receiving final loan payment, following Malaysian banking regulations.
• Property Owners: Request and receive the release document, proving they've cleared their mortgage obligations.
• Land Office Officials: Process and register the release in official property records, updating ownership status.
• Conveyancing Lawyers: Review and handle the release documentation during property transactions or refinancing.
• Real Estate Agents: Use the release to verify property status when listing or selling homes.

• Loan Details: Gather the original loan agreement number, property address, and final payment confirmation.
• Property Information: Collect land title details, lot number, and property registration data from your deed.
• Identity Documents: Prepare borrower's IC number, company registration (if applicable), and current contact information.
• Payment Records: Compile proof of full loan settlement and bank's acknowledgment of final payment.
• Document Format: Use our platform's Malaysian-compliant template to ensure all legal requirements are met.

• Property Details: Full legal description of the property, including title number and land office reference.
• Loan Information: Original mortgage agreement details, loan account number, and settlement date.
• Party Information: Complete names and registration numbers of both lender and borrower.
• Release Statement: Clear declaration that the mortgage is fully discharged and property released from encumbrance.
• Execution Block: Authorized signatures, witness details, and bank's official seal as required by Malaysian banking regulations.
• Authentication: Land office registration details and official stamps for legal validity.

A Mortgage Release is often confused with a Release of Claims, but they serve distinctly different purposes in Malaysian law. While both documents involve releasing rights, their scope and application differ significantly.

• Purpose: A Mortgage Release specifically terminates a bank's interest in property after loan repayment, while a Release of Claims broadly waives various legal rights or potential claims between parties.
• Legal Effect: Mortgage Releases affect property ownership records and must be registered with land offices. Release of Claims typically handles personal or commercial disputes without property implications.
• Required Parties: Mortgage Releases involve lenders and borrowers, requiring bank authorization. Release of Claims can be between any disputing parties.
• Documentation: Mortgage Releases need specific property details and loan references. Release of Claims focuses on describing the disputes and rights being waived.