This form is an Authority to Release. The county clerk is authorized and requested to release from a deed of trust a parcel of land to the executor of the estate. The form must be signed in the presence of a notary public.
Arizona Authority to Release of Deed of Trust is a legal document that serves as proof of the release of a lien on a property in Arizona. It is an essential form that allows the borrower to gain control over their property and provides evidence that their debt has been repaid in full. The Authority to Release of Deed of Trust is generally executed by the lender or the trustee who held the lien on the property. This document must be notarized and recorded with the appropriate county recorder's office to ensure its validity and protect the borrower's rights. The release of a Deed of Trust occurs when the borrower has fully paid their mortgage or fulfilled the terms agreed upon in the loan agreement. Once this happens, the lender or trustee is responsible for releasing the lien on the property by executing an Authority to Release of Deed of Trust document. This legal document is then filed with the county recorder's office, thus clearing the property of any encumbrances and providing the borrower with full ownership rights. Different types of Arizona Authority to Release of Deed of Trust include: 1. Full Release: This type of release signifies that the borrower has successfully paid off the loan in its entirety, freeing the property from any encumbrances. A Full Release provides the greatest level of satisfaction for the borrower, as it grants them complete control and ownership of the property. 2. Partial Release: In cases where the borrower has made partial payments towards their mortgage, a Partial Release of Deed of Trust is executed. This type of release releases a portion of the property from the lien, signaling that a specified amount has been repaid, while the rest of the debt remains outstanding. 3. Subordination Release: A Subordination Release of Deed of Trust is relevant in situations where a borrower refinances their primary mortgage or adds a secondary mortgage, such as a home equity loan. By executing this document, the lender consents to subordinate their lien position, allowing the new mortgage to take priority. 4. Re conveyance: Although not officially a type of Authority to Release of Deed of Trust, reconveyance refers to the action of transferring property title from the trustee back to the borrower. After the debt is paid off, the trustee is required to initiate reconveyance, which ultimately results in the termination of the trust deed and restores complete ownership rights to the borrower. In conclusion, the Arizona Authority to Release of Deed of Trust is an essential legal document that signifies the release of a lien on a property in Arizona. It can take various forms, including Full Release, Partial Release, Subordination Release, and reconveyance, depending on the circumstances of the borrower's debt and the actions taken to resolve it.
