Hi I took out a $30,000 mortgage from a friend for a Rental Property. I will be paying the remainder of the mortgage off within a week (possibly today) as I plan to sell the property within 60days. I need to know what type of legal documentation I will need to have the Mortgagee sign and where the document needs to be filed (Recorder of Deeds??)Thank youXXXXX XXXXXPittsburgh PA
State/Country relating to question: Pennsylvania
Internet sample forms
Hello. Thank you for using JustAnswer.
You would need your friend to sign a mortgage lien release. You can google the phrase ("mortgage lien release pennsylvania") and find suitable examples that you can copy.
Once signed, you would file with the Recorder in the county where the property is located.
Please let me know what follow-up questions you have. If my above responses have been helpful, please click Accept so that I get credit for the time/effort. You may always restart the thread and ask follow-up questions at any time by clicking the “Reply” button at the bottom of the question/answer thread. You can access this thread later in your profile under the “My Questions” tab.
Extensive experience and training in real estate matters.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).