Legal Question in Real Estate Law in Florida

Paying off seller financed mortgage

I intend to pay off my seller financed mortgage,what paperwork do i need to have my lender sign to make everything legal,and to protect my interest?


Asked on 4/07/03, 11:30 am

2 Answers from Attorneys
Peter Gonzalez Sanchez-Medina, Gonzalez, Quesada, Lage, Crespo, Gomez & MachadoLLP

Re: Paying off seller financed mortgage

You should request a pay-off statement from the mortgagee (party holding the original promissory note and mortgage), and upon payment of the pay-off figure (assuming the figure is true and correct), you should get in return a satisfaction of mortgage in recordable form and the original promissory note marked "paid in full".

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Answered on 4/08/03, 12:48 pm
Alexander M. Rosenfeld Rosenfeld & Stein, P.A.

Re: Paying off seller financed mortgage

At the very least you will need a stisfaction of mortgage, in form to be recorded and return of the original promissory note marked paid.

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Answered on 4/07/03, 5:10 pm


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