Document background
The Lien Satisfied Legal Owner Title Holder Release is a crucial document in Philippine property and security interest transactions, used when a borrower has fully satisfied their secured obligations to a creditor. This document is required by the Land Registration Authority and other relevant government agencies to formally document the discharge of a lien and authorize the removal of encumbrances from property titles. It is commonly used in various scenarios including mortgage satisfactions, equipment financing completions, and release of security interests in both real and personal property. The document must comply with Philippine Civil Code requirements and typically requires notarization for validity. It serves as definitive evidence that the underlying debt or obligation has been fully satisfied and that the lienholder relinquishes all claims against the property.
