The Mortgage House Discharge Form is a crucial document in Philippine real estate transactions that formally terminates a mortgage agreement between a property owner and a lending institution. This document becomes necessary when a mortgagor has fully paid their loan obligations and seeks to clear their property title of the mortgage encumbrance. Under Philippine law, particularly the Property Registration Decree and Civil Code provisions, this form must contain specific declarations and be properly executed to be valid. The document serves multiple purposes: it acknowledges receipt of full payment, releases the property from the mortgage, and authorizes the Register of Deeds to cancel the mortgage inscription. It must be notarized and registered with appropriate authorities to take effect, and may require additional documentation depending on the circumstances of the discharge.
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1. Title and Date: Document title 'Discharge of Real Estate Mortgage' and execution date
2. Mortgagor Details: Full legal name(s) and address(es) of the property owner(s)/borrower(s)
3. Mortgagee Details: Full legal name and address of the lending institution/bank
4. Property Description: Legal description of the mortgaged property including Transfer Certificate of Title (TCT) number
5. Mortgage Details: Reference to the original mortgage agreement including date of execution and registration details
6. Discharge Declaration: Formal statement declaring the full satisfaction of the mortgage and release of the property
7. Consideration Statement: Confirmation that all amounts due under the mortgage have been paid
8. Authorization: Statement authorizing the Register of Deeds to cancel the mortgage inscription
9. Execution Block: Signature blocks for mortgagee and witnesses with notarial acknowledgment
1. Attorney-in-Fact: Required when the discharge is being executed by an authorized representative of the mortgagee
2. Partial Discharge: Used when only a portion of the mortgaged property is being released
3. Corporate Authorization: Required when the mortgagee is a corporation, including board resolution details
4. Spousal Consent: Required when the property is conjugal or community property
5. Foreign Currency Declaration: Required when the mortgage was denominated in foreign currency
1. Schedule A - Property Details: Detailed technical description of the property including boundaries, area, and improvements
2. Schedule B - Payment Confirmation: Details of final payment including amount, date, and method of payment
3. Schedule C - Supporting Documents: List of attached supporting documents such as TCT copy, tax declarations, and payment receipts
4. Appendix 1 - Power of Attorney: If applicable, the document authorizing a representative to act on behalf of the mortgagee
5. Appendix 2 - Board Resolution: If applicable, corporate authorization for the discharge of mortgage
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