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 Release of Lien is a document that indicates that a lien holder officially relinquishes their claim on a property after the debt the lien secures is fully paid off.
A satisfaction piece is an essential legal document that indicates the final payment of a mortgage loan, effectively releasing the lien on the property. By recording a satisfaction piece, borrowers officially demonstrate that their loan obligation has been fulfilled.
