Article: If so, they can pay off the mortgage and "satisfy" the loan. Since the original loan will no longer exist, neither person's name is on it any longer. An attorney can prepare proper documentation to ensure the mortgage is fully paid off. The attorney can also prepare and file property records to transfer the property to the other person. You may receive the mortgage satisfaction document from your lender or your attorney. From your attorney, you should also receive property records showing transfer of the property to the other person.

What is a summary?
Ask the other person on the mortgage (co-borrower) if they are interested in paying off the mortgage and owning the property alone. Retain the services of an attorney to assist with pay off. Receive documentation showing the mortgage has been satisfied.