Satisfaction of Mortgage
The document a lender records when a mortgage is fully paid, releasing the lien from the property.
A satisfaction of mortgage is the instrument a lender signs and records once the borrower has paid the loan in full. Recording it removes the mortgage lien from the public record and clears the title.
Without a recorded satisfaction, an old paid-off mortgage can remain as a cloud on the title.
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Residential Mortgages (9% of the exam)
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- Mortgage
The security instrument that pledges real property as collateral for a debt, creating a lien in favor of the lender.
- Lien
A monetary claim against property that secures payment of a debt. It can be voluntary, like a mortgage, or involuntary, like a tax or judgment lien.
- Encumbrance
Any claim, lien, or restriction on a property that affects its title or use, such as a mortgage, easement, lien, or deed restriction.
This definition is Florida real estate exam-prep education, not legal, tax, or professional advice. Verify current rules against the official source before relying on them for a real transaction. Back to the full glossary.