Mortgage Deed

A mortgage deed is a document which gives a lender legal right and interest in a property. There are certain requirements that must be met when a mortgage document is executed. A borrower is pledging his home as security for a loan; the mortgage deed represents the lender's ownership in the property.

When someone borrows money, a mortgage deed is prepared. This document must be signed by the borrower and lender and sent to the county recorder's office to be filed. The filing of the document places a lien on the property. After the loan has been paid off, a release needs to be sent to the county recorders office, verifiying that the balance has been paid and the lien will be released. The lender no longer has an interest or ownership when the loan has been repaid.

When a mortgage deed is filed, the lender can foreclose on the property if the debtor does not make timely payments. A mortgage deed confirms that a borrower is using their home as collateral for a loan.


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