How Long to Get Deed After Paying Off Mortgage?

How Long to Get Deed After Paying Off Mortgage?

Your guide: How Long to Get Deed After Paying Off Mortgage?

Congratulations! You’ve paid off your mortgage and may be wondering, how long to get the deed after paying off your mortgage. Or maybe you’re approaching this huge milestone, but need help understanding the process of getting your actual deed.

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How Long to Get Deed After Paying Off Mortgage?

What Happens When You Pay Off Your Mortgage?

First, let’s start by understanding exactly what happens when you pay off your mortgage. Once you pay off your mortgage, your lender will typically do something called “releasing the lien” on your property.

A lien is the legal claim the lender has until the mortgage is fully paid. Once the mortgage is paid, this claim is removed. The lender will send you a payoff statement confirming the full payment. Keep this document for your records, as it is a crucial part of the process.

Steps to Get Your Deed

Releasing of the Lien: This is where your lender will create a document called “the release of lien” that indicates they are no longer legally entitled to the property.

Recording the Release: The lender sends this document to the county recorder or registrar of deeds for recording. This legally documents that the mortgage is satisfied.

Getting Your Deed: After everything is recorded, you will get a copy of the deed from your county recorder’s office. This document will show that you are the full owner of the property.

How Long to Get Deed After Paying Off Mortgage?

Timeline to Get Your Deed

Next, let’s look at how long it’ll take to get your deed. Typically, you’ll receive your deed anywhere from 30 to 90 days. However, several factors can influence this timeline.

You do want to think about processing times, how quickly the recorder’s office moves, and the different state and local regulations. Typically, the larger institutions have processes, while smaller lenders take longer. Some county offices process documents quickly, while others may take several weeks.

It’s all about the follow-up

It is imperative to ensure that the release of the lien is executed and recorded by following up with both your lender and the county recorder’s office. Postponements or problems now can help avoid problems later on, including having trouble selling the property.

Make sure your lender has sent the release of the lien by contacting them if you haven’t gotten your deed in 90 days. To find out the status of the document, get in contact with the recorder’s office. The secret to overcoming any delays is perseverance.

How Long to Get Deed After Paying Off Mortgage?

Owning your deed

You can feel secure and flexible knowing that you fully own your property when you own your deed outright. You don’t need a lender’s approval to sell or transfer the property. You’ll also save money because you won’t have to pay a mortgage. You can also make changes or enhancements to your property without being restricted by a lender if you have full ownership.

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Conclusion: How Long to Get Deed After Paying Off Mortgage?

In conclusion, getting the deed to your property is one of the most exciting things ever. But, there are a few things that can affect how long it will take. Typically, it can take anywhere from one to three months to get your deed.

So, if you don’t hear back after 90 days, it’ll be a good time to follow up. Don’t be shy. You’ve done your part. Now, that you understand the general process, you can understand the general transition of the deed. Be proactive. Get in front of your lender and county recorder as soon as possible to avoid any sort of delays.

Once you have your deed, you’ll enjoy the benefits and peace of mind that come with full ownership of your property. Happy living!