If you paid off your mortgage, the debt is not automatically removed from the Land Registry.
It is mandatory to cancel the original Promissory Note to release the lien.
What is a Mortgage Note?
Document signed upon assumption of the mortgage.
Establishes the terms and conditions of the loan.
It serves as evidence and guarantee for the financial institution.
The original is retained by the financial institution until the mortgage is paid off.
Ways to cancel the Promissory Note
Deed of Cancellation of Mortgage: Most common and preferred option.
Request to the Land Registry: Only if the mortgage is more than 20 years old.
Judicial: If the original Promissory Note is lost, a costly judicial process is required to cancel it.
Do I have to be present to sign?
Yes, but in the case of a marriage, only one spouse is sufficient. However, if you are out of PR, you can sign before a notary public wherever you are.
Our service includes everything
Title Study
Payment of government fees
Legal fees based on the Notarial Law
Filing of the deed at the Land Registry Office
Costs
Prices: Vary according to the amount of the mortgage, as the fees are calculated from this.
Online Process: Being a virtual law firm, we work all the preparation through e-mail. At the end, the signature of the deed will be required, in person.
Clients outside PR: As an alternative method, the deed can be signed before a notary public anywhere in the world.
Conclusion
Services: If you paid off your mortgage, it is mandatory to sign a cancellation deed and file it at the Land Registry. We have a home delivery option, at your home or office, if it is in the San Juan metropolitan area.
My husband and I were very pleased with services rendered by Lcdo Olivencia. He acted upon immediately and is very knowledgeable with PR laws. Which can be a hassle if you go on your own. Plus the convenience of not having to fly to PR is an A+ situation unless it was necessary like in our case in the end just to sign. The time to complete the services were exceptional too. Don't hesitate to contact him for your needs.
Janice Velez
23/09/2024
Excellent service... Fast... Costly but effective...Thank you
Nelduby Gonzalez
07/08/2024
Great Lawyer, We live in NYC, I hired them to obtain our PR "citizenship" paperwork for possible move to Spain. My case was a little more complicated because my PR mother didn't have an updated post-2010 Birth Certificate, obtained all paperwork Priority Mail in less than a month. Also got my wife's paperwork in under 2 weeks, great service, fair price, highly recommended for all kinds of legal representation in Puerto Rico.
Nelson Pachas
07/08/2024
If you need to carry out a procedure in Puerto Rico from abroad, do not hesitate to contact them. They are the best solution. They solve quickly, and communication is as clear as the crystal clear waters of the island.
Bernabé Alvarado
11/06/2024
Ramon is really professional and timely. From the start of the process he was quick with responding and very thorough, as to gather all of the required information to complete my request. I had numerous questions and he responded immediately. I was a little nervous about doing the process online, but everything was handled professionally. Thanks so much for such a great resource. Outstanding lawyer AND service!
Modere of The Woodlands
14/12/2023
When you do an online transaction from another country, there is always a bit of uncertainty as to what the outcome will be, but I can recommend Abogado Notario Online, because the service was fast, friendly and the documents were correct with the specifications I requested. It was a safe and efficient service and I would definitely request their services again if I need them.
Marcela Cabrer
06/11/2023
Mr. Olivencia is excellent. The best in the world! Clarity in his work and an order in all his processes worthy of admiration!!!!! 100% recommended
Marianne De Jesus
27/10/2023
Efficient and fast service.
Carolina Gomez
24/08/2023
Thank you Abogado Notario Online for handling my request with diligence and professionalism. I am more than satisfied with what you have accomplished and look forward to working with you in the future. Much appreciated!
Carmen Luisa Martinez Santiago
23/08/2023
Very good service! You responded quickly, clarified my doubts and explained the procedure and in a short time, I had everything I needed at my doorstep. I will definitely rely on your services for future procedures. Thank you very much Mr. Olivencia.
