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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 March 20, 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 March 20, 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 ________________, ________.
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NOTARY ACKNOWLEDGMENT
Last Updated December 30, 2024
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.
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.
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.
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