Legal Question in Real Estate Law in New York
documentation for mortgage loan satisfaction
If a debtor has paid their final mortgage installment for a property purchase in a privately held loan, what documentation, if any, must the seller/lender provide the purchaser? Is it acceptable to provide nothing, given that the buyer has their cancelled checks?
What, if any, documentation would need to be filed publicly (I'm assuming none since the loan was private?)
Asked on 2/21/07, 10:15 am
1 Answer from Attorneys
Frank Pintauro
Donohue & Partners, PC
Re: documentation for mortgage loan satisfaction
A satisfaction of mortgage must be filed with county clerk.
Answered on 2/21/07, 11:45 am
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