A formal process that frees real estate from a mortgage or other lien, indicating that the debt has been fully paid off. This is crucial in ensuring that the property is clear of legal claims and can be sold or transferred without encumbrances.
A trustee is an individual or organization that holds or manages property or assets for the benefit of another party. Trustees are often seen in trust deeds, and they have a fundamental role in ensuring the terms of the trust are adhered to, typically within a fiduciary or neutral capacity.
