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A Release of Mortgage is a legal document that officially cancels your bond obligations once you've fully paid off your home loan in South Africa. It proves that the bank no longer has any claim to your property and removes their right to use it as security for the debt.

The document must be registered with the Deeds Office, following the requirements of the Deeds Registries Act. Once registered, it confirms you have complete ownership of your property, free from the bank's interests. This release is essential when you want to sell your property or use it as security for another loan.

You need a Release of Mortgage when you've paid off your home loan in full and want to prove you're the sole owner of your property. This commonly happens when selling your home, refinancing with a different bank, or using your property as collateral for a new loan in South Africa.

Getting this release promptly after loan repayment protects your interests and simplifies future property transactions. The bank must provide this document within a reasonable time after final payment, and you'll need to register it with the Deeds Office to make it legally effective. Many property attorneys handle this process as part of their standard services.

• Full Release: Completely cancels the bank's claim on your property after final payment, most commonly used for standard residential mortgages
• Partial Release: Removes the bank's claim on only a portion of the mortgaged property, useful when subdividing or selling part of your land
• Satisfaction of Mortgage: Functions identically to a Release of Mortgage but uses different terminology, often preferred by certain South African banks
• Electronic Release: Digital version registered through the Deeds Office's electronic system, becoming increasingly common for faster processing

• Banks/Mortgage Lenders: Must prepare and sign the Release of Mortgage once the loan is fully paid, confirming they no longer have claims on the property
• Property Owners: Receive the release after paying off their mortgage, gaining full ownership rights to their property
• Conveyancing Attorneys: Handle the legal process of registering the release with the Deeds Office and ensuring proper documentation
• Deeds Office Officials: Review and register the release, updating official property records to reflect the canceled mortgage
• Real Estate Agents: Often coordinate with all parties when the release is needed for property sales

• Property Details: Gather the deed number, property description, and physical address from your title deed
• Loan Information: Collect your mortgage account number, original bond amount, and final payment confirmation
• Bank Details: Note the lending bank's full legal name and branch details where the mortgage was registered
• Personal Information: Have your ID number and full legal name as it appears on the bond documents
• Documentation: Our platform generates a legally compliant Release of Mortgage template, ensuring all required elements are included
• Registration: Prepare Deeds Office registration fees and supporting documents for your attorney

• Property Identification: Full legal description matching the title deed, including erf number and township details
• Mortgage Details: Original bond number, amount, and registration date at the Deeds Office
• Bank Declaration: Clear statement that the mortgage is canceled and the property released from the bank's security interest
• Party Information: Complete legal names and details of both the bank and property owner
• Authorizing Signatures: Bank representative's signature with proper authorization and date
• Witnesses: Two witness signatures as required by South African property law
• Legal Compliance: Our platform ensures all these elements are correctly formatted and included

A Release of Mortgage is often confused with a Release of Lien, but they serve different legal purposes in South African property law. While both documents remove claims against property, their scope and application differ significantly.

• Legal Scope: A Release of Mortgage specifically cancels a bank's security interest after full loan repayment, while a Release of Lien removes various types of claims, including contractor's liens or tax holds
• Issuing Authority: Mortgage releases come from registered banks or financial institutions, whereas lien releases can be issued by various parties like contractors, tax authorities, or judgment holders
• Registration Requirements: Mortgage releases must be registered at the Deeds Office, but lien releases may not always require official registration
• Duration: Mortgage releases permanently end a specific loan agreement, while lien releases might be temporary or partial