Legal tip 1301. MORTGAGE FREE! Do not forget to de-register your mortgage at the Land Registry
Wednesday, May 20, 2015 @ 4:33 PM
As the Land Registry Info is what counts in the legal traffic.
You have two options:
1. To do nothing: in that case, the registration information will remain there for twenty years, after which the registration should automatically delete it. The charge will be showed there before third parties.
2. To remove the mortgage record from Land Registry, so official records show a free of charges property before third parties.
Steps to be taken are as follows:
o To request a certificate of zero balance from your Bank. Bank is obliged to provide it free if you have already paid all principal.
o To grant a Notary deed of mortgage cancellation.
o To fill in the form of stamp duty tax (Form 600). Mortgage cancellation is subject to tax, but exempt, so no tax cost.
o To obtain registration of this at the Land Registry.
Contact us if you want us to remove your charge at the Land Registry
A landscape in Málaga, South eastern Spain, at facebook.com