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Satisfaction of Mortgage

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What type of property was this mortgage for?

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This document prepared by (and after recording returned to):
Name: __________
Firm/Company: __________
Address: __________
Phone: __________
Assessor's Property Tax Parcel/Account Number: __________

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Above this line reserved for official use only

SATISFACTION OF MORTGAGE

_________________________ of _________________________ (the "Mortgagee"), does hereby certify and declare that the owner and holder of that certain mortgage bearing the date January 16, 2025 executed by _________________________ of _________________________ (the "Mortgagor") to secure payment of the principal sum of $__________ dollars and interest, and recorded at the Office of the Clerk of the Circuit Court of __________, Virginia on January 16, 2025, that formerly encumbered the described real property: ______________________________________________________________________________________ which was recorded in ______________________________________________________________________________________ has been FULLY SATISFIED AND DISCHARGED.

IN WITNESS WEREOF the Mortgagee has duly affixed his or her signature under hand and seal on the ________ day of ________________, ________.

SIGNED, SEALED, AND DELIVERED
in the presence of:

______________________________
WITNESS: ____________________

_______________________
_________________________

NOTARY ACKNOWLEDGMENT

COMMONWEALTH OF VIRGINIA

COUNTY OF ____________________

The foregoing instrument was acknowledged before me this ________ day of ________________, ________, by _________________________.

________________________________
Notary Public

My commission expires: _____________

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Satisfaction of Mortgage Document Preview

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Last Updated December 30, 2024

What is a Satisfaction of Mortgage?

A Satisfaction of Mortgage, sometimes called a release of mortgage, is a document that acknowledges that the terms of a Mortgage Agreement have been satisfied, meaning that a borrower has repaid their mortgage loan to the lender.

Consequently, the lien on the borrower's property (placed for security for the loan) will be lifted once the Satisfaction of Mortgage document is filed.

The parties mentioned in a Satisfaction of Mortgage are the same as the parties in a Mortgage Agreement.

The mortgagor is the person who borrows money from a lender to pay for a home and pledges that home as security for the loan.

The mortgagee is the person or corporation that lent the money to the mortgagor to pay for their home.

How do you get a Satisfaction of Mortgage?

The lender issues a Satisfaction of Mortgage after they have received the final mortgage payment from the borrower. It's signed by the mortgagee (in the presence of a witness in some states and counties) and then notarized by a registered notary public.

Once the document has been notarized, it can be delivered to the mortgagor, who files it with the County Clerk's Office (sometimes called the County Recorder's Office or Land Registry Office) to acknowledge that the mortgage is no longer a lien on the property.

What's the difference between a Satisfaction of Mortgage and a Deed of Reconveyance?

A Satisfaction of Mortgage and a Deed of Reconveyance are essentially the same thing. Where a Deed of Reconveyance is used to transfer a property title from a Trustee to a Trustor once the Trustor has paid what they owed under a Deed of Trust agreement, a Satisfaction of Mortgage does the same thing but with a loan created through a Mortgage Agreement.

Some states, like Idaho and D.C., require the use of a Deed of Reconveyance, some states require the use of a Satisfaction of Mortgage, and some states can use either. Be sure to check which document is appropriate for your state and ensure you are using a Satisfaction of Mortgage with a Mortgage Agreement or a Deed of Reconveyance with a Deed of Trust.