Document background
A Release of Mortgage Document is essential in Australian property transactions when a mortgage has been fully repaid or the lender agrees to release their security interest in the property. This document is required by Land Registry Offices across Australian states and territories to formally remove a registered mortgage from a property's title. The Release of Mortgage Document must include specific details such as the mortgagee and mortgagor information, property details, mortgage registration number, and appropriate execution clauses. It is commonly used in property sales, refinancing situations, or when a loan has been fully repaid. The document must comply with relevant state/territory legislation and can be lodged either in paper form or, increasingly commonly, through electronic lodgment platforms like PEXA.
