Yes, the bank is required to participate in two aspects:
- Issue the zero debt certificate: a document that certifies that the mortgage is fully paid. The bank is obligated to deliver it free of charge within 7 business days from the request.
- Sign the cancellation deed: a bank representative must appear before the notary (in person or via videoconference) to execute the cancellation deed.
However, you can choose the notary where the deed is executed. You are not required to use the bank's notary or agency, which can result in significant savings.
Our team coordinates with the bank to obtain the certificate and the representative's schedule for the notarial signing.