Satisfaction of Mortgage
(OH)

Summary

This satisfaction of mortgage template may be used by the holder of a mortgage on Ohio real property to evidence the satisfaction and release of the mortgage. This template includes practical guidance, drafting notes, and optional clauses. This satisfaction template, also sometimes referred to as a certificate of satisfaction or a release of mortgage in Ohio, can be used for commercial or residential property and should be recorded in the county or counties where the released property is located. Counsel should consult the recording office where the real property is located to determine the local customs and recording fees. Pursuant to Ohio Rev. Code Ann. § 5301.34, upon presentment of an instrument executed by the mortgagee certifying that the mortgage has been fully paid and satisfied, the mortgage will be discharged on the records by the county recorder. In addition, such instrument will be recorded in the official records kept by the county recorder. Pursuant to Ohio Rev. Code Ann. § 5301.36, a mortgagee may be liable for penalties and damages if a mortgage is not properly released within 90 days from the date of satisfaction of the mortgage. See Ohio Rev. Code Ann. § 5301.36 for further detail. For a discussion of financing real property in Ohio see Commercial Real Estate Financing (OH) and Commercial Real Estate Financing Transactions (OH).