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03-19-2020, 03:28 PM
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#1
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I came, I saw, I conquered.
Join Date: Mar 2005
Location: Vancouver
Posts: 1,884
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Does anyone how to discharge a mortgage after paying it off?
Does anyone how to discharge a mortgage after paying it off?
Ugh, I just realized I needed to do that after paying it off a year ago..
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03-19-2020, 06:50 PM
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#2
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Willing to sell body for a few minutes on RS
Join Date: Mar 2002
Location: Victoria
Posts: 10,939
Thanked 5,584 Times in 2,056 Posts
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Your mortgage lender needs to fill out a Form C Release and submit to the Land Title Authority.
https://www.ltsa.ca/docs/Form-C-Gene...nt-Release.pdf
https://ltsa.ca/property-information...-paid-mortgage
That's about it.
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03-19-2020, 06:53 PM
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#3
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Need my Daily Fix of RS
Join Date: Jan 2011
Location: Burnaby
Posts: 299
Thanked 294 Times in 99 Posts
Failed 11 Times in 7 Posts
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^^ That. The mortgagor needs to discharge through LTO. Cheers.
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03-24-2020, 08:09 PM
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#4
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I contribute to threads in the offtopic forum
Join Date: Mar 2005
Location: Surrey
Posts: 2,808
Thanked 2,621 Times in 684 Posts
Failed 238 Times in 102 Posts
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Quote:
Originally Posted by Slifer
Does anyone how to discharge a mortgage after paying it off?
Ugh, I just realized I needed to do that after paying it off a year ago..
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Depending on who your bank is, you may need to get in touch with a lawyer or notary to have it discharged.
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03-25-2020, 12:59 PM
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#5
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Old School RS
Join Date: May 2004
Location: Port Moody
Posts: 4,641
Thanked 4,157 Times in 1,262 Posts
Failed 130 Times in 80 Posts
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Quote:
Originally Posted by parm104
Depending on who your bank is, you may need to get in touch with a lawyer or notary to have it discharged.
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In general you shouldn't - the banks have the teams in place to handle this stuff internally, no need to incur this cost. Once paid off, it should be as simple as requesting it to be discharged from your bank.
-Mark
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