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A Mortgage Receipt is a formal documentation tool used in Canadian real estate and banking transactions to acknowledge and record mortgage payments made by borrowers to lending institutions. This document becomes necessary whenever a mortgage payment is made, whether it's a regular installment, lump sum payment, or final payment for mortgage discharge. The receipt serves multiple purposes: it provides proof of payment for the borrower, helps maintain accurate payment records, and can be crucial for tax purposes or in case of future disputes. Under Canadian banking regulations and provincial property laws, mortgage receipts must contain specific information including property details, payment amounts, and current loan status. They are particularly important for both borrowers and lenders as they create a clear audit trail of mortgage transactions and can be used as official documentation for various financial and legal purposes.

1. Lender Identification: Full legal name and address of the lending institution

2. Borrower Information: Full legal name(s) and address of the borrower(s)

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

4. Mortgage Reference: Original mortgage registration number, date, and amount

5. Payment Confirmation: Details of the payment received, including amount, date, and payment method

6. Outstanding Balance: Current balance of the mortgage after payment application

7. Authentication: Official signature, stamp, or seal of the lending institution