On April 16, 2025, María Cristina Clemente Buendía, a notary from Notaría Buendía, shed light on a crucial yet often overlooked step that homeowners must take after finally paying off their mortgages. Many individuals, after years of diligent payments, eagerly anticipate the day when their property is entirely theirs. However, they frequently neglect the essential task of removing the mortgage from the Property Registry, which can lead to complications down the line, especially when it comes time to sell the property.
Clemente Buendía, who has gained a following on social media for her practical advice, explained in a video posted on her TikTok account (@notariabuendia) that while paying off a loan may feel like a victory, it does not automatically erase the mortgage from the registry. "The mortgage does not disappear simply because the last payment has been made. Although you no longer owe money to the bank, the registered entry remains there," she stated, emphasizing the importance of understanding the distinction between economic cancellation and registry cancellation.
This misunderstanding often leads homeowners to believe that the bank will handle the cancellation process on their behalf. However, as Clemente Buendía clarified, the responsibility lies solely with the borrower. "The financial institution has no obligation or interest in removing it from the registry," she noted, highlighting that the burden falls entirely on the individual who took out the mortgage.
To initiate the cancellation process, the first step is to request a zero debt certificate from the bank. This document, which can be obtained free of charge, serves as proof that the mortgage has been fully paid off. With this certificate in hand, the borrower must then visit a notary of their choice to process the public deed of payment and mortgage cancellation. This deed is the key document that allows for the mortgage to be officially removed from the Property Registry.
While completing this process is essential, it is important to note that it does come with costs. The borrower is responsible for paying notarial fees and any associated registry costs. Despite these expenses, Clemente Buendía encourages homeowners to pursue this avenue rather than opting for potentially more expensive and complex alternatives. "This procedure is not subject to taxes and does not require the intervention of a management company," she explained, pointing out the advantages of handling the matter directly.
For many, the thought of incurring additional costs right after settling their mortgage can be frustrating. However, Clemente Buendía argues that the peace of mind gained from completing this final step far outweighs the temporary inconvenience of paying these fees. Ignoring this process could lead to significant issues if the homeowner decides to sell the property in the future, as the mortgage would still appear on the registry.
In her video, she urged homeowners to take action as soon as they finish paying off their mortgage to avoid future complications. "It’s crucial to close this chapter definitively," she advised, emphasizing that taking these steps ensures a smoother transition in property ownership.
The notary's insights resonate with many who have experienced the complexities of home ownership and the mortgage process. As the real estate market continues to evolve, understanding the legal obligations tied to property ownership becomes increasingly important.
As more individuals turn to social media for guidance on legal and financial matters, experts like Clemente Buendía are stepping up to fill the information gap. Her approach not only educates homeowners but also empowers them to take control of their financial futures.
Ultimately, the message is clear: paying off a mortgage is just the beginning of a new chapter in home ownership. By taking the necessary steps to remove the mortgage from the Property Registry, homeowners can ensure that they truly own their property, free and clear of any lingering legal obligations.
