The building will remain affected by the mortgage until the Registrar receives the original mortgage deed accompanied by a signed release letter from the mortgage lender.

The amount for which a receipt is given does not necessarily represent the total amount of the mortgage; stating that the amount appearing on the receipt was given to release the building from the mortgage will be sufficient. The Registrar does not require any fees to release a building from a mortgage.

When you have fully repaid your loan, it is important to obtain a discharge from your mortgage lender. In the event of selling or refinancing the building, you will need to have the discharge in your possession.

Given the complexity of the system, it is therefore important to consult Notaire-Direct because:

• The practicing notary is required to have liability insurance;
• The notary is a specialist in drafting contracts, including discharges;
• The notary is a specialist in title searches and can therefore verify the validity of the title and any encumbrances affecting it;
• The notary is obligated to verify the identity of the parties involved.