Escrow & Title
A satisfaction of mortgage (or discharge) is recorded when:
AA property is listed for sale
BA mortgage loan is paid in full and the lien is released✓ Correct
CA new buyer assumes the existing mortgage
DThe property tax lien is paid
Explanation
When a mortgage is paid in full, the lender records a satisfaction of mortgage (also called a cancellation or discharge), which removes the mortgage lien from the public record.
Related Georgia Escrow & Title Questions
- An abstract of title in Georgia is:
- Georgia is known as an attorney closing state, which means:
- In Georgia, a security deed (also called a deed to secure debt) differs from a mortgage because:
- A mechanic's lien in Georgia may be filed by:
- A 'concurrent closing' in a real estate transaction refers to:
- Under the Georgia Good Funds Law, disbursements at closing may not be made until:
- In Georgia, the security instrument used by lenders (instead of a traditional mortgage) is called a:
- When a Georgia borrower pays off their mortgage (security deed), the lender must execute and deliver a:
Practice More Georgia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Georgia Quiz →