Escrow & Title
In Connecticut, which instrument is used to release a paid-off mortgage from the property's title?
ASatisfaction of mortgage (certificate of discharge)✓ Correct
BQuitclaim deed
CWarranty deed
DAffidavit of title
Explanation
When a mortgage is paid in full in Connecticut, the lender records a satisfaction of mortgage (or certificate of discharge) in the land records, releasing the mortgage lien from the title.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Deed of TrustA security instrument used in many states instead of a mortgage, involving three parties: borrower (trustor), lender (beneficiary), and a neutral trustee.
Short SaleA sale of real property where the sale proceeds are less than the outstanding mortgage balance, requiring lender approval.
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