If I recently paid off my mortgage, what legal papers should I get from my mortgage company and/or county?
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If I recently paid off my mortgage, what legal papers should I get from my mortgage company and/or county?
Asked on September 17, 2011 under Real Estate Law, Illinois
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Congratulations! You are one of the few who can probably say that in this day and age. If you have [paid off the mortgage it is known as "satisfying" the lien. And so your mortgage holder - bank or other lending institution - should send you a satisfaction of mortgage that should be filed with the county clerk. That way when a title search is done on the property there are no outstanding liens listed. Call up the mortgage company and ask them where the satisfaction is and tell them that you want it within the next 30 days to file. Keep on them. This is something improtant and you need to make sure that it is done properly. Good luck.
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