Document background
The Mortgage Release Deed is a fundamental document in Indian property law, used when a borrower has fully satisfied their mortgage obligations and seeks to clear the property's title from the lender's charge. This document becomes necessary upon complete repayment of the mortgage loan, including all interest and charges. The deed must comply with the Transfer of Property Act, 1882, and various state-specific regulations regarding stamp duty and registration. It includes crucial details such as the original mortgage particulars, property description, confirmation of full payment, and the formal release declaration. The document requires careful drafting to ensure it effectively terminates the mortgagee's rights while protecting both parties' interests. A properly executed Mortgage Release Deed is essential for the mortgagor to prove clear title to the property and is often required for subsequent property transactions or refinancing.
