Legal Question in Real Estate Law in New Jersey
Paid off Mortgage
My Mother held the Mortgage to a property that my husband and I purchased from her. The Mortgage has been paid off for a while but we never did anything about the paper work. She is now looking into moving to an assisted care home and she does not want this property which is paid off to be counted as part of her assets. What paper works does she need to file to clear this Mortgage.
2 Answers from Attorneys
Re: Paid off Mortgage
If you still have the original recorded Mortgage, she can sign the back confirming it is paid in full. If not, you need a Discharge of Mortgage prepared. It is not a complicated matter and an attorney can do it for a modest fee.
Either document must be recorded in the County to remove the mortgage lien. An attorney can also handle this for you.
Re: Paid off Mortgage
The item you are looking for is generally known as a satisfaction piece...
Contact me if you need any help.
Mike
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