What Is a Satisfaction Of Mortgage?

Paying off a mortgage or refinancing loan is a major milestone for home and property owners. However, the simple act of sending in a final payment is not enough to remove a lien on the title in the public records.

The lender has a legal obligation to draft, notarize, and file a Florida Satisfaction of Mortgage.

While the final payment satisfies the borrower’s debt, it does not automatically clear the property title of the lien since the lien is a part of the public record. The lender is required under Florida law to prepare a Florida Satisfaction of Mortgage, which must then be recorded with the clerk of the court in the county where the property is located. A notice of the filing must also be shared with the borrower.

These actions must be completed within what the state of Florida deems as a reasonable time frame; in this case, the Florida Satisfaction of Mortgage must be recorded and notice must be given to the borrower within 60 days of the final payment.

Published: Dec 8, 2023

Updated: Dec 8, 2023

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This FAQ is for informational purposes only and does not constitute legal advice. We make no representations or warranties about this FAQ's completeness, accuracy, reliability, or suitability. Each legal situation is unique. Always consult an attorney for personalized guidance.

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