satisfaction of mortgage
1) Payment in full on a mortgage.
2) The document a mortgage holder signs to indicate that a mortgage has been fully paid and the mortgage lien has been released.
Category: Real Estate & Rental Property → Buying a House
Category: Real Estate & Rental Property → Selling a House

Nolo’s Plain-English Law Dictionary. . 2009.

satisfaction of mortgage
n.
   a document signed by a lender acknowledging that a mortgage has been fully paid. It must be recorded with the County Recorder (or Recorder of Deeds) to clear the title to the real property owned by the person who paid off the debt.
   See also: mortgage

Law dictionary. . 2013.

Look at other dictionaries:

  • satisfaction of mortgage — The payment of a mortgage. 36 Am J1st Mtg § 406 …   Ballentine's law dictionary

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  • satisfaction piece — noun : a formal written acknowledgment by the holder of a mortgage or judgment of its satisfaction with an authorization for its discharge of record …   Useful english dictionary

  • List of law topics (S-Z) — NOTOC Law [From Old English lagu something laid down or fixed ; legal comes from Latin legalis , from lex law , statute ( [http://www.etymonline.com/index.php?search=law searchmode=none Law] , Online Etymology Dictionary; [http://www.m… …   Wikipedia

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