Just a different thought: you need to access how well you manage/spend money and your current financial situation. Can you resist buying a new car (or whatever) if you have $90K sitting there? Do you have an emergency reserve already saved?
I paid off my mortgage early and it feels GREAT not having that monthly payment. That said, I've never heard of a 1.1% mortgage interest rate and almost would question what the catch is on the loan.
You can always split the difference: pay half the mortgage off and invest the other half...
There is no "catch". The OP is not in the US.
However, your advice is way off the mark. The split option is the worst of both worlds. If you're not sure why, feel free to come over to the DPOYM Club that SwordGuy linked above. Everyone is welcome to come and learn.
Dicey, can you clarify your thinking here? As a DPOYM club member, I would rank the choices from best to worst as 1. invest 100% of the inheritance in the market, 2. invest 50% 3. invest 0% and use 100% to pay off the mortgage. Why do you feel option 2 is the worst? I would suggest it to someone whose risk tolerance did not permit option 1 in a heartbeat.
I can clarify that what I wrote was in response to PGSD's statement, particularly the bolded part, not the list you added. Also, I'm answering as an American living in the US. Here, all the bank cares about is that you make your scheduled payment on time. You paid off half your mortgage and then you lost your job or had some other problem and can't make your payments now? Tough shit, says the bank, as they heartlessly initiate foreclosure proceedings. From a position of power, it is always better to have your money in your control. Partially paying down a mortgage doesn't increase your control one iota. The better option is to invest until you have plenty of dough. Enough to theoretically pay it off in full. I say theoretically, because once you start to amass an army of green soldiers, you won't want to give them up. Reaching FI happens faster the sooner you get those soldiers working on your behalf.
As for risk tolerance, the best way to increase it is by studying the market. JL Collins Stock Series is an outstanding place to start. People fear what they don't understand.
I agree with
@SavinMaven. Also this had been covered left, right and every other direction over on the DPOYM thread.
Tl;Dr: Paying a mortgage DOWN, but not OFF, is dangerous, especially if you fear risk.
Note: On this device, I can't see the original post. IIRC, the gift wasn't quite enough money to pay the mortgage off in full. Even if it was, I wouldn't do it. Seriously, until you have a shitload of money in the bank, i.e. invested, you just can't appreciate the feeling of power (and peace) it brings. Beats the pants off of killing a puny little motrgage.