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When I pay off my mortgage am I effectively "negotiating an instrument"?

Bellevue, WA |

It seems like my mortgage has been assigned and re-assigned and my understanding is that the note, a negotiable instrument, has been negotiated several times. When I pay off the note am I also 'negotiating" the instrument?

Thanks!

Attorney Answers 2


  1. No. When your promissory note is paid off, it should be marked as cancelled and returned to you. A negotiable instrument is "negotiated" when someone writes "pay to the order of" someone else on it and signs it over to that someone else.


  2. No - a mortgage pay off is not negotiating an instrument - though your check used to pay off the mortgage is a negotiable instrument.

    If this answer was helpful, please mark it as helpful or as a best answer. This answer is for general education purposes only. It neither creates an attorney-client relationship nor provides legal guidance or advice. The answer is based on the limited information provided and the answer might be different had additional information been provided. You should consult an attorney.

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