Definitions for "SATISFACTION OF MORTGAGE"
a legal written document that acts as evidence that a home loan has been fully paid.It frees the debtor from any responsibility or obligation to the lender. Tthis document is usually given to the borrower from the lender upon final payment of a home loan.
An instrument or notation on an instrument acknowledging payment of an indebtedness secured by a mortgage.
When a mortgage debt is repaid in full a document is issued by the lender. This can also be called a "release of mortgage."