Deed Of Redemption Template for Hong Kong

The Deed of Redemption is a critical document in Hong Kong's property financing landscape, used when a borrower has fully repaid their mortgage and requires formal discharge of the security. It becomes necessary when the mortgage loan has been fully settled and the property needs to be released from the lender's security interest. The deed must comply with Hong Kong's strict requirements for property documents, including proper execution as a deed and registration with the Land Registry. This document contains essential details such as the original mortgage particulars, confirmation of full payment, and explicit release of the security interest. The Deed of Redemption is particularly important in Hong Kong's property market where proper documentation of security discharge is crucial for maintaining clear title records.

1. Parties: Identifies the Mortgagee (Lender), Mortgagor (Borrower), and any other relevant parties to the deed

2. Background: Recites the details of the original mortgage, including date, property details, and registration information

3. Definitions: Defines key terms used throughout the deed, including Property, Mortgage, Secured Amounts, etc.

4. Acknowledgment of Payment: Confirms receipt of all amounts due under the mortgage

5. Discharge and Release: Contains the operative provisions releasing the property from the mortgage

6. Further Assurance: Mortgagee's covenant to execute further documents if necessary to perfect the discharge

7. Costs: Specifies responsibility for legal and registration costs of the deed

8. Governing Law: Confirms Hong Kong law as the governing law of the deed

9. Execution: Formal execution block meeting Hong Kong deed requirements