The notary can proceed with all the necessary steps to obtain the discharge of the hypothèques and charges granted by an owner because the mortgage of the latter has been repaid and he intends to have it discharged.
Let us recall that a quittance is a document by which a mortgage lender acknowledges having been partially or fully reimbursed for the sums he has made available to his debtor. The mere repayment of the mortgage debt, even when acknowledged by the mortgage lender, does not legally constitute a quittance.
The notary will thus request from the lender a statement of account indicating the amount of the loan to be repaid. In the case of a sale, the notary will ensure that a commitment is obtained from the lending institution to sign a quittance and will subsequently repay the seller's loan before remitting the balance to the seller and proceed with the publication of the quittance, in the Land Registry, to discharge the mortgage.
The notary must also ensure the capacity and identity of the parties. For individuals, the notary will verify, among other things, their marital status and matrimonial regime. For legal entities, we will verify the legal existence of the company, its registration in the appropriate registers.
The notary entrusted with the quittance of the mortgage loan must be attentive to the obligations secured by this loan. In recent years, financial institutions have multiplied the financial products guaranteed by mortgage. A mortgage can now guarantee a wide variety of obligations, such as a conventional mortgage, but also a line of credit, a credit card, a guarantee, etc.
The quittance or release, as the case may be, must therefore take into account this new reality and the notary must ensure, with his client and the creditor, the obligations that he wants to have discharged. The latter may want, for example, to have the loan granted for the purchase of a property discharged, but keep the other credit facilities granted to him by the financial institution.
The notary can also proceed with the discharge of other charges that may affect the property, such as a notice of sale for taxes, a declaration of family residence, a legal construction mortgage, or, in the case of a condominium, a legal mortgage of the condominium corporation.
We invite you to consult a notary who is a member of the Notaire-Direct team because he: