What is the form of a valid release title in Switzerland ?
In Switzerland, a release deed is a legal document that certifies that a debtor’s debt has been paid and that there is therefore no longer any mortgage or pledge on the property.
The discharge document must contain certain mandatory information to be valid.
The following are the main elements that must be included in a release deed in Switzerland:
- The precise identification of the creditor and the debtor;
- The amount of the debt that has been repaid;
- The detailed description of the property concerned (e.g. the mortgaged building);
- The explicit mention that the debt has been fully repaid and that the mortgage guarantee or pledge is lifted;
- The signature of the creditor or his authorized representative.
The release deed must be written in the official language of the canton where the property is located. It is usually prepared by the creditor or his lawyer and signed by the creditor or his authorized representative.
It is important to note that the exact form of the release order may vary slightly from one canton to another in Switzerland. It is therefore advisable to check with the relevant authorities or a lawyer to ensure that the release document is drafted in accordance with the rules of the relevant canton.