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Release Of Mortgage Document Template for Singapore

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Key Requirements PROMPT example:

Release Of Mortgage Document

"I need a Release of Mortgage Document for a Singapore private residential property where DBS Bank is releasing their security interest following full loan repayment in January 2025, with urgent registration required with the Singapore Land Authority."

Document background
A Release Of Mortgage Document is essential when a property owner has fully repaid their mortgage loan in Singapore. This document serves as official evidence that the mortgage has been satisfied and the lender no longer holds any claim over the property. It must comply with Singapore's Land Titles Act and other relevant legislation, requiring proper execution by the mortgagee and registration with the Singapore Land Authority. The document typically includes details of the original mortgage, property description, and confirmation that all obligations have been met. It's a crucial document for property owners as it clears their title and enables future transactions.
Suggested Sections

1. Document Title and Reference: Formal title identifying the document as a Release of Mortgage with reference numbers

2. Date: Date of execution of the release

3. Parties: Details of mortgagee (lender) and mortgagor (borrower)

4. Property Description: Legal description of the mortgaged property including lot number, title details

5. Mortgage Details: Reference to original mortgage including date and registration number

6. Release Statement: Formal statement of release and discharge of the mortgage

7. Execution Block: Signature blocks for mortgagee and witnesses

Optional Sections

1. Recitals: Background information about the mortgage and reason for release - used when additional context is needed

2. Consideration Statement: Statement of any consideration paid for the release - used when consideration is involved

3. HDB Compliance Statement: Specific statements required for HDB properties - used when property is an HDB flat

Suggested Schedules

1. Property Schedule: Detailed property description if too lengthy for main document

2. Original Mortgage Document: Copy of the original mortgage being released

3. Power of Attorney: If release is executed under power of attorney

Authors

Alex Denne

Head of Growth (Open Source Law) @ ºÚÁÏÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions




















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Industries

Land Titles Act (Chapter 157): Primary legislation governing property titles and registration in Singapore. Key focus on mortgage discharge procedures, registration requirements for mortgage releases, and prescribed documentary formats.

Conveyancing and Law of Property Act (Chapter 61): Fundamental law governing property transactions, specifically addressing legal requirements for releasing security interests in property and formal requirements for mortgage discharge.

Banking Act (Chapter 19): Regulatory framework for financial institutions, covering regulations for mortgage releases by banks and requirements for handling mortgage settlements.

Residential Property Act (Chapter 274): Legislation governing residential property ownership, particularly important for restricted residential properties and foreign ownership considerations in mortgage releases.

Housing and Development Board Act (Chapter 129): Specific legislation for HDB properties, outlining particular requirements and regulations for mortgage discharge of HDB flats.

Singapore Land Authority Requirements: Administrative requirements from SLA including registration procedures, prescribed forms, and documentation standards for mortgage releases.

Stamp Duties Act (Chapter 312): Legislative requirements for stamp duties, including any applicable duties and documentation requirements for mortgage releases.

Rules of Court: Procedural rules governing court proceedings, relevant when mortgage releases involve legal proceedings or court orders.

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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