What happens when my home loan is fully repaid or settled?
When the loan is fully settled, the financial institution through its solicitors, will release its charge on the property.
The financial institution (chargor) will uplift his claim on the property and the title 1 to the property will be transferred to you.
- Title - A legal document establishing the right of ownership on a property.
Reprinted with permission from BankingInfo (A Consumer Education Programme by Bank Negara Malaysia)
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