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Notary Public West Vancouver

A Guide to Discharging Your Mortgage, Owning Your Home Free and Clear

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Congratulations! You’ve paid off your mortgage and your home is almost completely yours. But there’s one more step: discharging your mortgage. This legal process removes the lender’s claim on your property, giving you full ownership.

This blog post, based on information from the Financial Consumer Agency of Canada (FCAC), will guide you through everything you need to know about discharging your mortgage.

What to expect:

  • It involves you, your lender, and your provincial or territorial land title registry office.
  • The process may vary depending on your location. In most cases, a lawyer, notary, or commissioner of oaths can help.
  • Your lender will provide a confirmation that your mortgage is paid in full (upon request).
  • The land registry office will update your property title to reflect the discharged mortgage.

When to discharge:

  • After you’ve paid off your mortgage and any related loans (e.g., HELOC).
  • When you’re refinancing with a new lender.
  • Before selling your property.

Costs to consider:

  • Mortgage discharge fee: Charged by your lender, may be regulated in your province/territory.
  • Professional fees: For lawyers, notaries, or commissioners of oaths.
  • Penalty fees: If you pay off your mortgage early (check your mortgage terms).

We can help!

As a notary public in North Vancouver, we can guide you through the mortgage discharge process, saving you time and ensuring everything is done correctly.  We can:

  • Explain the discharge process specific to North Vancouver.
  • Help you gather and complete the necessary paperwork.
  • Liaise with your lender to obtain the required discharge documents.
  • File the discharge documents with the Land Title Office of BC.

Discharging your mortgage is a significant step towards true homeownership.  A notary can help make the process smooth and stress-free. Contact us to discuss your specific situation and get a quote for our services.

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