Escrow & Title
In Indiana, a 'satisfaction of mortgage' (also called a 'release of mortgage' or 'discharge') is recorded when:
AThe borrower receives a loan approval
BThe mortgage loan is paid in full and the lender releases their lien on the property✓ Correct
CThe property is transferred to a new owner
DThe mortgage is refinanced with the same lender
Explanation
A satisfaction of mortgage is recorded by the lender when the borrower has fully paid off the mortgage loan. Recording this document releases the lender's lien and clears that encumbrance from the title.
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