US Legal Forms
Release and Cancellation of Trust Agreement - Trust Indenture

Indenture Meaning With Examples In Hennepin

Q: Why is a deed called an indenture?

The term comes from the medieval English &quot;indenture of retainer&quot; a legal contract written in duplicate on the same sheet, with the copies separated by cutting along a jagged (toothed, hence the term &quot;indenture&quot;) line so that the teeth of the two parts could later be refitted to confirm authenticity (chirograph).

Category:

Trusts - Termination

State:

Multi-State

County:

Hennepin

Control #:

US-00195

Format:

Instant download

Description

The Release and Cancellation of Trust Agreement/Trust Indenture is a legal document used to formally cancel a previously executed trust agreement by acknowledging that the associated obligations have been met. This form is particularly relevant to users in Hennepin as it provides specific instructions for releasing liens and encumbrances that were established by the original trust agreement. Users need to fill in essential details such as the county, date, and specific book and page information for the recorded trust agreement. This form ensures records are updated in the Chancery Clerk's office, promoting clarity in property ownership. Ideal for attorneys, partners, owners, associates, paralegals, and legal assistants, this form simplifies the process of trust cancellation and provides necessary legal protections. It serves to clear an entity's or individual's financial responsibilities under the original trust agreement. Users are advised to seek appropriate authorization prior to execution and ensure all parties sign before a notary public to validate the document. This promotes legal compliance and clarity in question of trust status.

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FAQ

In real estate, an indenture is a deed in which two parties agree to continuing obligations. For example, one party may agree to maintain a property and the other may agree to make payments on it.

Some indentured servants served as cooks, gardeners, housekeepers, field workers, or general laborers, while others learned specific trades such as blacksmithing, plastering, and bricklaying, which they often parlayed into future careers.

The terms of the Indenture are tailored to reflect the specific type of transaction and issuer. Like credit agreements,1 an Indenture contains lending and repayment terms. In contrast to credit agreements, however, the lender is not a party to an Indenture.

The Indenture pledges certain revenues as security for repayment of the Bonds. The Trustee agrees to act on behalf of the holders of the Bonds and to represent their interests.

An indenture is a particular formal contract or deed made between two or more parties. Beginning in medieval England, an indenture can be defined as a specific agreement within a contract noted with a specific duration or significance.

Indenture. n. a type of real property deed in which two parties agree to continuing mutual obligations. One party may agree to maintain the property, while the other agrees to make periodic payments. 2) a contract binding one person to work for another.

The term comes from the medieval English "indenture of retainer"—a legal contract written in duplicate on the same sheet, with the copies separated by cutting along a jagged (toothed, hence the term "indenture") line so that the teeth of the two parts could later be refitted to confirm authenticity (chirograph).

: required by contract to work for another for a certain period of time.