Mortgage Cancellation

Mortgage Cancellation Deed

Mortgage Cancellation


Did you pay off your mortgage? Don't forget to cancel the lien at the Property Registry.


Your debt is not automatically eliminated!

  • Even if you have paid off your mortgage, the mortgage lien remains active in the Property Registry until it is formally cancelled.
  • To be fully released, it is mandatory to sign a mortgage cancellation deed, with the original Promissory Note.

What is a Mortgage Note?

  • This is the document you signed when you took over your mortgage.
  • It establishes the terms of the loan and serves as collateral for the financial institution.
  • Important: The financial institution retains the original Promissory Note until the debt is paid in full.

Ways to cancel the Promissory Note

  1. Deed of Cancellation of Mortgage:
    • This is the most common and recommended option.
  2. Petition to the Property Registry:
    • Applies only if the mortgage is more than 20 years past due.
  3. Judicial process:
    • If the Promissory Note is lost, a court proceeding, which can be costly and time-consuming, will be necessary to cancel it.

Must you be present to sign?

  • Yes, but if you are married, it is sufficient for one spouse to sign.
  • Are you located outside of Puerto Rico? No problem:
    • You may sign before a notary public in the place where you are located.

Our service includes everything

  • Title Study: We verify the legal history of your property.
  • Payment of government fees: We take care of all the required paperwork.
  • Legal fees: Calculated according to the Notary Law.
  • Registration of the deed: We file the necessary documentation at the Property Registry.

Cost and convenience

  • Adjusted prices: They vary according to the amount of your mortgage, as the fees are calculated from this.
  • 100% online processing: We coordinate everything by email and you will only need to sign in person at the end of the process.
  • Clients outside Puerto Rico: You can sign before a notary public anywhere in the world.

In the San Juan metropolitan area?

We offer home delivery service to your home or office.


Avoid unnecessary risks

  • If the original Promissory Note is lost, paying off the mortgage will be a more complicated and costly process.
  • Anticipate the problems! ➡️ Fill out our evaluation form (free!) and let's get you started today.

MORTGAGE CANCELLATION EVALUATION FORM:

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