Discharge


Definition of "Discharge"

Darryle Nowell
Darryle Nowell Chapman Hall Premier Realtors

Removing a debt by making full payment. A mortgage discharge is a document formally specifying that a mortgage debt have been paid. It is typically recorded in a local property deeds office.

Have a question or comment? We're here to help.

 
 
 
*** Your email address will remain confidential.
 
 

Search Real Estate Terms

 

Popular Real Estate Terms

Satisfaction

Discharge of an obligation through payment or the rendering of a service. An individual is pleased with something such as work performed by an elec ...

Defeasance Clause

Provision guaranteeing the return of title to a mortgagor upon satisfaction of a mortgages conditions and terms. Causes the discharge of a mortgagees ...

Servicemen

U.S. government group term life insurance for male and female members of the federal uniformed forces on active duty, underwritten by private insuranc ...

Water Quality Improvement Act Of 1970

1970 federal law that requires shipowners to clean up or pay for the cleanup of waters polluted by discharges from their ships. Shipowners may be refu ...

Sprinkler Leakage Insurance

Coverage for property damage caused by untimely discharge from an automatic sprinkler system. This coverage, available through an endorsement to the S ...

Lightning

Discharge of electricity from the atmosphere, one of the perils covered in most fire insurance policies. ...

Popular Real Estate FAQ

Why Do People Refinance?

People finance to obtain a new loan in order to pay off the existing mortgage or to gain access to the existing equity in the home. ...

What Is A Lien?

A lien is a claim against a property. ...

What Happens When You Prequalify?

When you are prequalified, the lender gives you an estimate but does not formally commit to giving you a loan. ...

What Does An Appraisal Mean?

An appraisal is an estimate of the value of a certain property by a qualified, independent individual. ...

What Is A Down Payment?

A down payment is the money you pay up front for the purchase of a home. ...

What Is A Rate Lock?

A rate lock is a commitment issued by a lender to a homebuyer or to the mortgage broker guaranteeing a specific interest rate for a specified amount o ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

Luxury Real Estate Forecast Furnished Rental Tips for Real Estate Investors How to Buy a House Quickly What is a Credit Score and How Does it Impact Real Estate? The Ugly Truth About Open Houses

FAQ

I looked at a property yesterday with a REALTOR® who seems to be clueless. I am really interested in purchasing the property, though. Can I switch agents and still make the purchase? What do I need to know about Motorcycle Insurance? What is an index? What is a lifetime rate cap? What is PITI and what does it stand for?