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The Mortgage Release Letter is a critical document in New Zealand's property and banking sector, issued when a borrower has fully repaid their mortgage or met specific release conditions. This document is essential for confirming that the lending institution no longer holds any security interest in the property and authorizes the removal of the mortgage from the property's title. It must comply with New Zealand's Property Law Act 2007 and Land Transfer Act 2017, ensuring proper documentation of the discharge process. The letter includes crucial information such as property details, mortgage reference numbers, confirmation of full payment, and formal authorization for the Land Registry. It may also address specific scenarios such as partial releases or multiple properties. This document is particularly important as it provides the necessary legal authority for updating property records and confirms the borrower's unencumbered ownership of the property.

1. Letterhead and Date: Bank/lender's official letterhead and current date

2. Recipient Details: Full name and address of the borrower(s) and their legal representatives if applicable

3. Property Identification: Legal description and physical address of the mortgaged property

4. Mortgage Reference: Mortgage number, registration date, and any other relevant reference numbers

5. Confirmation of Full Payment: Statement confirming that the mortgage has been paid in full

6. Release Declaration: Formal declaration that the mortgage is released and the security interest is discharged

7. Authorization Statement: Statement authorizing the Land Registry to remove the mortgage from the title

8. Bank Authorization: Authorized signatory details and official bank execution block