Where can I find a Fulfillment of Deed?

Q: Who holds the title to my house in Florida?

In Florida, the title to your house is typically held by the person or entity listed on the deed. If you have a mortgage, the lender holds a lien on the property, but you still retain ownership rights. Once the mortgage is satisfied, the lender must release the lien, confirming your full ownership.

Q: Who owns the house if you have a mortgage?

If you have a mortgage, you own the house, but the lender holds a lien on the property as security for the loan. This means that while you have the rights of ownership, the lender can enforce their rights if you fail to make mortgage payments. Once the mortgage is paid off, you own the property free and clear.

Q: Who owns the property in Florida when there is a mortgage?

In Florida, the property is owned by the borrower, even when there is a mortgage. The lender has a secured interest in the property through the mortgage, but ownership remains with the borrower. Once the mortgage is satisfied, the lender's interest is removed, and the borrower owns the property outright.

Q: Is a mortgage a public document?

Yes, in Florida, a mortgage is considered a public document. This means it is recorded with the county clerk and can be accessed by the public. This transparency allows potential buyers and lenders to verify the status of the property and any existing liens.

Full question:

I now live in Florida, but had sold a home in Michigan 20 years ago. I am now asked for a "Fulfillment of Deed". The Buyers say that the Courthouse requires this form. I did send them a Satisfaction of Mortgage, but never heard of Fulfillment of Deed.

Category: Real Property
Date: 04/07/2025
State: Michigan

Answer:

See the following forms on our website:

WA-1018-08

WA-1019-08

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

What is the statute of satisfaction of mortgages in Florida?

In Florida, the statute governing the satisfaction of mortgages is found in Florida Statutes § 701.04. This law requires that when a mortgage is paid off, the lender must file a satisfaction of mortgage with the county clerk to officially release the lien on the property. Failure to do so can lead to complications for the homeowner in proving clear title.

What happens when no satisfaction of a mortgage is recorded?

If no satisfaction of a mortgage is recorded after the mortgage has been paid off, the lien remains on the property. This can create issues when selling the property or obtaining a new mortgage, as potential buyers or lenders may see the outstanding lien as a liability. It's advisable to ensure that a satisfaction of mortgage is filed to clear the title.