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A Release of Mortgage is a legal document that officially cancels your mortgage once you've fully paid off your home loan in Singapore. It proves that the bank no longer has any claim on your property and returns full ownership rights to you. Think of it as your "freedom paper" from the bank's security interest.

Under Singapore's Land Titles Act, you'll need this release document to remove the bank's name from your property title at the Singapore Land Authority. Most banks handle this process automatically after your final payment, but it's smart to confirm they've filed it. Without this release, you can't sell or refinance your property freely, even if you've paid off your loan.

You need a Release of Mortgage when you've finished paying off your home loan in Singapore and want to clear the bank's interest in your property. Most commonly, this happens when you've made your final mortgage payment, sold your property, or refinanced with a different bank. Getting this release is essential before selling your property or using it as collateral for future loans.

The release becomes crucial during property transactions, estate planning, or when taking out new loans against your property. Banks in Singapore typically process this automatically after loan completion, but delays can hold up your plans. Getting this release promptly helps avoid complications with the Singapore Land Authority and ensures you have full control over your property.

• Full Release: Most common type that completely discharges the mortgage after full loan repayment, removing all bank claims on the property
• Partial Release: Used when releasing only a portion of mortgaged property, common in land subdivisions or multiple-unit developments
• Re-conveyance Release: Specifically transfers legal title back to property owner, used mainly for older properties with different title structures
• Electronic Release: Digital version filed through Singapore's electronic land registry system, becoming increasingly standard for modern transactions

• Banks and Financial Institutions: Create and execute the Release of Mortgage after receiving final loan payment, handle registration with land authorities
• Property Owners: Receive the release document as proof of full loan repayment and clear property title
• Conveyancing Lawyers: Verify and process the release documentation, ensure proper filing with Singapore Land Authority
• Land Authority Officers: Update property records and titles once the release is properly filed
• Real Estate Agents: Use the release to confirm property is unencumbered before new sales transactions

• Property Details: Gather the exact property address, lot number, and strata title details from your original mortgage documents
• Loan Information: Collect your mortgage account number, original loan amount, and final payment confirmation from the bank
• Identity Verification: Prepare NRIC/passport copies of all property owners listed on the mortgage
• Bank Documentation: Request a statement showing zero loan balance and the bank's confirmation of full repayment
• Filing Requirements: Check Singapore Land Authority's current filing fees and submission guidelines

• Property Identification: Full legal description of property, including lot number and strata title details
• Mortgage Details: Original mortgage date, registration number, and loan amount
• Party Information: Complete names and details of mortgagor (borrower) and mortgagee (bank)
• Release Statement: Clear declaration that the mortgage is fully discharged and property released from encumbrance
• Execution Block: Signature spaces for authorized bank representatives with proper attestation
• Legal Compliance: Reference to Singapore Land Titles Act and relevant regulations

A Release of Mortgage differs significantly from a Mortgage Agreement in both purpose and timing. While a Release of Mortgage marks the end of a loan relationship, a Mortgage Agreement establishes it. These documents serve as bookends to your property financing journey in Singapore.

• Purpose and Timing: A Mortgage Agreement creates the security interest when you take out a loan, while a Release terminates it after full repayment
• Legal Effect: Mortgage Agreements place encumbrances on your property; Releases remove them and restore full ownership rights
• Document Length: Mortgage Agreements are typically lengthy with detailed loan terms; Releases are shorter, focusing solely on discharge
• Required Parties: Both need bank signatures, but Mortgage Agreements require all borrowers to sign, while Releases mainly need the bank's execution