Question 1

What is the Florida satisfaction of mortgage process?

Accepted Answer

Process (Section 701.04): the borrower pays the mortgage in full (at closing, through payoff, or by regular payments), the lender executes a satisfaction of mortgage (a document acknowledging the debt is paid and the lien is released), and the lender records the satisfaction in the official records of the county where the property is located within 60 days. The satisfaction must: identify the mortgage (by recording information), state that the mortgage has been paid in full, and be signed by the lender (or authorized representative).

Question 2

What if the lender cannot be found to satisfy a Florida mortgage?

Accepted Answer

Missing lender: if the original lender no longer exists (merged, dissolved, or bankrupt): check MERS (Mortgage Electronic Registration Systems) for the current servicer, contact the successor lender or servicer, search the FDIC or OCC databases for the lender’s successor, or file a quiet title action (Chapter 65) asking the court to remove the lien. For old mortgages: if the mortgage is more than 5 years past its maturity date with no enforcement action: it may be unenforceable (Section 95.281: lien extinguishment after 5 years past maturity).

Question 3

Can a borrower record their own satisfaction of mortgage in Florida?

Accepted Answer

Self-recording: generally, no. The satisfaction must be executed by the lender (or their authorized agent). However: if the lender refuses or cannot be found: the borrower can file an affidavit of payment (stating under oath that the mortgage has been paid in full) and file a quiet title action to have the court remove the lien. The court’s order: serves as the satisfaction and clears the title. This process requires: legal representation and court proceedings.

Satisfaction of Mortgage: in Florida

Satisfaction of Mortgage in Florida

Process

Missing Lender

Old Mortgages

Related Terms

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