Discharge of Mortgage

When you sell your property you must provide the Vendor with “Good Title” this means that you must discharge any encumbrance that may be effecting the property. In the case where a Lender has a Mortgage over the property, the Mortgage together with any other charges, liens, caveats or the like are discharged or paid off.

The mortgage will be paid out at settlement from the settlement funds and any balance left over will be paid as you direct.

Some lending institutions will require your signatures on a “Discharge Authority”. This document will be forwarded to you from Premier Conveyancing if required. You must sign this document and complete any other sections where indicated and return the document to Premier Conveyancing without delay.

MOST BANKS WILL NOT SETTLE WITHOUT THIS AUTHORITY.