How do we acquire title to our property afterour mortgage has been paid off?
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How do we acquire title to our property afterour mortgage has been paid off?
We just paid off the mortgage of our primary residence. The transaction has been recorded. Should we to do something additional to receive deed/title?
Asked on October 21, 2010 under Real Estate Law, Florida
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
Congratulations! What a huge burden to have off your back. Especially in this day and age when more and more mortgages are going in to foreclosure. What has been filed? A Satisfaction of Mortgage? If the satisfaction has been properly recorded you really do not need anything else. Anyone doing a title search on the property should come across not only the mortgage but also the satisfaction of mortgage and these two documents together will show that you own the property free and clear. I would double check, though, that it has indeed been recorded and get whatever formal document you can from the county clerk as to same. And keep the copy safe and sound in your important documents file. Better safe than sorry. Good luck.
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