The burden of mortgage is superimposed on the Bank's client who took a loan and in order to guarantee the payment of debt gave a deposit of its real estate, such as an apartment, a private house, a land plot, etc. So far there is a mortgage agreement, the borrower has no right to sell this property, to rent, make changes to layout or make a gift to the burdened object. But as soon as the amount of the loan and interest is paid completely, the burden of mortgage can be removed. A person who understands a little in the financial documentation is unlikely to be able to carry out an operation without the help of bank employees. However, in this article you will find detailed instructions, how to do it yourself.
As soon as you fully paid out a loan, contact your bank employee and request two documents: a letter of fulfillment of obligations under the mortgage loan agreement in full and extract from the loan account. Within two weeks after making the last debt on the loan, the bank must prepare these documents for you.
- your application for lifting the burden;
- mortgage from the bank, in which there must be a mark on full payment of debt and the closing date of the loan;
- act of reception and transfer to the mortgage;
- power of attorney in the name of the borrower so that he can represent the interests of the bank in Rosreestre;
- authorized documents of the creditor bank (if necessary);
- receipt of payment of state duty for providing new evidence.
The borrower always wants to pay off a loan as soon as possible, get rid of the mortgage and return the full-fledged property. It is easy to calculate that if you start collecting the necessary paper immediately after full payment of debt, already less than three weeks you can breathe with relief, as all burdens will be removed. But note that the list filed in paragraph 2 may differ depending on the region and the registration authority. It is best to personally find out detailed information in these instances.
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