Finance
A deed of release (or satisfaction of mortgage) in Rhode Island is recorded when:
AA new mortgage is obtained on the property
BThe mortgage is fully paid off, releasing the lender's lien on the property✓ Correct
CThe property is transferred to a new buyer
DA home equity line of credit is opened
Explanation
When a mortgage is paid in full, the lender issues a deed of release (or mortgage satisfaction) that is recorded in the local land records. This releases the lien and confirms the borrower has clear title.
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