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Paid In Full Letter From Lender

Paid In Full Letter From Lender Template for United Arab Emirates

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Paid In Full Letter From Lender

"I need a Paid In Full Letter From Lender for a fully settled personal mortgage loan in Dubai, UAE, confirming the release of property security for a residential villa, with the final payment made on March 15, 2025."

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Document background
The Paid In Full Letter From Lender is a critical document in the UAE banking system, required whenever a borrower completely settles their loan obligations. This document, regulated under UAE Federal Law No. 14 of 2018 and relevant Central Bank notices, serves multiple purposes: it confirms the borrower's successful loan settlement, authorizes the release of any securities or guarantees, and can be used for various official purposes such as mortgage deregistration or proof of debt clearance. The letter is particularly important in the UAE's robust financial sector, where it helps maintain clear records of debt settlements and facilitates further financial transactions. It must contain specific information and declarations as required by UAE banking regulations and is commonly used in both personal and commercial lending contexts.
Suggested Sections

1. Bank/Lender Details: Full legal name and address of the lending institution, including any relevant license numbers

2. Letter Reference: Unique reference number, date, and classification of the document

3. Borrower Information: Complete details of the borrower including full name, Emirates ID/passport number for individuals, or trade license for companies

4. Loan Details: Original loan amount, account number, type of facility, and date of origination

5. Confirmation of Payment: Clear statement confirming full settlement of the loan, including the final payment date and total amount paid

6. Release Statement: Formal declaration releasing the borrower from all obligations related to the specified loan

7. Authorization: Statement authorizing relevant authorities to release any registered securities or guarantees

Optional Sections

1. Property Release Details: Include when the loan was secured against property, providing specific details for mortgage deregistration

2. Security Release: Used when multiple securities were held against the loan, detailing the release of each security item

3. Business Continuation: Required for business loans to confirm no other facilities are outstanding with the bank

4. Multiple Account Statement: Used when the borrower had multiple facilities, clarifying which specific accounts are settled

5. Third-Party Authorization: Include when allowing a designated third party to process the letter with authorities

Suggested Schedules

1. Schedule A - Loan Account Details: Detailed breakdown of the loan account, including all facility numbers and final settlement figures

2. Schedule B - Security Details: List of all securities, guarantees, or collateral that were held against the loan

3. Schedule C - Property Details: For mortgage loans, detailed property information including title deed number and property ID

4. Appendix 1 - Payment History: Optional summary of payment history showing final settlement

5. Appendix 2 - Supporting Documents: Copies of relevant documents such as final payment receipts or settlement confirmations

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions




















Clauses













Relevant Industries

Banking & Finance

Real Estate

Mortgage Services

Commercial Lending

Islamic Banking

Property Development

Construction

Corporate Finance

Retail Banking

Investment Banking

Relevant Teams

Legal

Credit Administration

Loan Operations

Customer Service

Compliance

Risk Management

Documentation

Mortgage Services

Collections

Banking Operations

Client Relations

Relevant Roles

Bank Manager

Loan Officer

Credit Manager

Legal Counsel

Compliance Officer

Relationship Manager

Property Registrar

Mortgage Officer

Banking Operations Manager

Customer Service Manager

Documentation Specialist

Risk Manager

Collections Manager

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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