finance
satisfaction of mortgage
A document a lender issues when a mortgage loan has been paid in full, acknowledging that the debt is satisfied and releasing the lien on the property. It should be recorded in the public records to clear the mortgage from the title. With a deed of trust, the similar document is a deed of reconveyance from the trustee.
- Exam tip
- Satisfaction releases a mortgage lien; reconveyance releases a deed of trust. Both should be recorded.
- Example
- After the sale closes and the old loan is paid off, the lender records a satisfaction of mortgage, removing its lien from the title.
Related terms & state variants
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Last verified: 2026-10-23