Having your own living space is the dream of every person. Fortunately, there is no limit when such an opportunity arises, even if you have to pay a mortgage. And when the debt is fully repaid, the question arises of how to remove the burden from the apartment after paying off the loan.
What are the standard conditions for mortgage lending?
In order to understand this issue, first of all, it is necessary to consider what conditions exist for mortgage lending. As a rule, when concluding an agreement with a bank or a third-party financial institution, an apartment is registered as collateral, which is a guarantee for the bank that the borrower will indeed fulfill its obligations. Therefore, a person paying a mortgage has limited rights to use the home until the debt is fully paid.
How is encumbrance removed from real estate?
Mortgaged property must pass the appropriate registration with the Unified State Register. The general conditions for any mortgage agreement say that all restrictions on operations with mortgage housing will be lifted after 100% payment of the debt. However, in reality, repayment alone is not enough. It must be documented. Then how to remove the burden from the apartment after paying off the mortgage? After debt repayment, new information is amended in the Unified State Register. The owner receives a new certificate, in which he is the sole owner, and a document confirming the removal of the burden. It is important to note that the former borrower should deal directly with this issue.
Are there any difficulties?
Removing encumbrances from collateral housing is considered a standard procedure, so it has been somewhat simplified. To date, all documents can be executed through the local MFC, but some difficulties still arise. Most often, complexity arises from a banking institution. The organization is obliged to provide an official certificate stating that the debtor fully paid the entire amount and the contract was closed. This is a prerequisite, without which the MFC will not issue a document on the removal of the burden, and the record in the Unified State Register will not be made.
Burden Removal Procedure
Legislation has long been developed a general form of how to remove the burden from the apartment after paying off the mortgage. Sberbank and financial institutions adhere to precisely this order. In order to initiate the process, each borrower must provide the following documentation:
- An application drawn up by the borrower and the lender for the removal of the mortgage burden of collateral.
Or, as an alternative, the following documents may be considered:
- Statement by the owner of the collateral.
- Application of the borrower with the provision of a document where there is a bank record on the repayment of a mortgage obligation.
- Judicial opinion on the basis of which the mortgage service is terminated.
The military mortgage is provided on special conditions, therefore, the mandatory removal of the encumbrance is based on the application of the state body that provides the opportunity to use this program.
In the event that mortgage lending was registered as shared construction, then before removing the burden from the apartment, you must provide an official document from the developer who launched the project into work.
If we talk about practice, then most often borrowers provide a jointly prepared statement with the creditor bank, since such a document can be obtained most quickly. Alternatively, you can request from the lender the official form in which there will be a note on the full payment of the debt. Both of these documents are quite sufficient grounds for registering information in the Unified State Register.
Unfortunately, the complexity of the procedure is manifested in practice. As a rule, EGRP employees require a number of additional documents from the borrower and refuse to correct the information. In this case, how to remove the burden from the apartment after paying off the mortgage correctly? In order not to lose time on meaningless visits, it is recommended that you check with a banking organization in advance or find it in Rosreestr. The organization has every reason to demand from the borrower a passport, all documents under the loan agreement, as well as registration data. In addition, the government agency does not provide this service for free. The average cost of the duty is about 350 rubles.
Where to begin?
Even before the full repayment of the debt, many borrowers are already thinking about how to remove the burden from the apartment after paying off the mortgage (Sberbank or another institution). After the last payment on the mortgage debt has been made, each borrower must contact the bank in order to receive a supporting document that the borrower has fulfilled all the obligations. Most often, mortgage lending specialists working at the bank are always ready to provide all possible assistance and provide quality advice on the procedure for removing the burden. It is better to use it first of all.
Some banking organizations try to provide maximum services, therefore, if there is a request, they can independently send all the repayment data for entering into the Unified State Register of Enterprises.
How to initiate the procedure yourself?
In the event that the bank does not have the opportunity to help its client in providing information to the USRR, each borrower will have to act independently, based on his own interests. There is some standard instruction that will help to organize the whole process and determine the further actions of the borrower.
First of all, before removing the encumbrance from the apartment, you must contact the bank branch with which the mortgage agreement was concluded and order a certificate on closing the agreement in connection with the fulfillment of obligations. If, for any reason, a copy of the contract was lost, then it must also be requested with a mark on full payment.
Further, the borrower writes an application with a request to make changes to the registration record, pays the state fee and collects additional documents if necessary.
Where to apply?
The first method, which is quite logical, is to apply directly to the Federal Service for State Registration, Cadastre and Cartography. In this case, the initiators should be both parties - the former borrower and the representative of the bank.
The second way - filing documents by registered mail. In this case, a statement signed by the parties must be notarized.
The third way is an online resource. You can also get background information on how to remove the burden from the apartment after paying off the mortgage. "State services" - the official portal, which was created to simplify the conduct of various kinds of operations. It is important to know that to carry out this action, you must have an electronic signature. Otherwise, the user will only have access to the service of writing to the electronic queue.
The fourth way - multifunctional centers that provide a wide range of services in a "single window". How to remove the burden from the apartment after paying off the mortgage (Sberbank) through the MFC? For this, together with the application, it is necessary to provide the organization with all the necessary package of documents.
To remove the burden, it is recommended to contact the MFC, since it is here that the whole procedure is carried out for the shortest possible period of time. If this is not possible, then you can directly send a statement to Rosreestr. However, it should be understood that reviewing all documents also requires some time. Most often, a decision on this issue is made within three, maximum five working days. The final stage is perhaps the most joyful, because the borrower only needs to get an extract from the Unified State Register.
Common problems
As a rule, problems when changing the registration record are related to disagreements between the creditor bank and the borrower. Most often, the bank is not able after repayment in a short time to prepare all the necessary documentation for the client, therefore, before removing the burden from the apartment, asks to wait for a month. This may be due to a system update or internal regulations. Also, after receiving the last installment, the bank rechecks all payments and reconciles, which should show the absence of any debt.
It is important for each borrower to know that if it is planned to prematurely close the mortgage agreement, then the bank must be warned about this for a month so as not to overpay in the future and there will be confusion in the documents. In addition, when it becomes possible to pay off your debt faster, it is best to visit the bank in person and consult with an employee about further actions.
In connection with recent events, when licenses are taken away from many financial organizations, many borrowers have a question about how to remove encumbrance from an apartment after paying off a loan if the bank has closed. In any case, the rights and obligations of the institution that has ceased its work are transferred to another organization. In this case, to remove the burden, it will be necessary to contact this bank.
Removal of encumbrance as a mandatory procedure
Removing the burden from mortgage housing is a prerequisite for full future use. Without entering information into the Unified State Register of Enterprises, the borrower will remain a debtor, therefore, it will not be able to make financial transactions. That is, he will not be able to sell his home or arrange it as an inheritance. Therefore, it is important to know how to remove the burden from the apartment, and correctly draw up all the documents immediately after closing the debt.