Humber/Ontario Real Estate Course 1 Exam Practice 2025 - Free Real Estate Course 1 Practice Questions and Study Guide

Image Description

Question: 1 / 890

What is a Discharge of Charge/Mortgage?

Completed and registered by the mortgagor.

Executed by the mortgagee.

Limited to usage within the land titles system.

Not registered on title unless a dispute arises.

A Discharge of Charge/Mortgage typically refers to the document that confirms the mortgage has been paid off in full, releasing the property from the mortgage debt. It is important to note that a Discharge of Charge/Mortgage is not registered on title unless a dispute arises. This ensures that the property's title remains clear and free of any encumbrances once the mortgage has been completely satisfied.

Get further explanation with Examzify DeepDiveBeta
Next Question

Report this question

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy