Mississippi Deed of Trust - Release

• Category: Real Estate - Mortgages and Deeds of Trust
• State: Multi-State
• Control #: US-00489
• Format: Word; Rich Text

Description

This form authorizes the chancery clerk or the recorder of deeds to release from the deed of trust or mortgage certain property described in the document. A Mississippi Deed of Trust Release is an important legal document that serves as proof of releasing a property owner's interest in a property that was previously secured by a deed of trust. It signifies the termination of the lien placed on a property by a lender or beneficiary. In Mississippi, there are two main types of Deed of Trust Releases: 1. Full Release: A Full Release occurs when a borrower successfully pays off the loan secured by the deed of trust. Once the lender receives full payment and all associated fees, they execute a Full Release, officially releasing the lien on the property. This action allows the property owner to claim full ownership without any further encumbrances. 2. Partial Release: A Partial Release can be requested when a borrower pays off a portion of the loan or when additional collateral is added to secure the remaining balance. By obtaining a Partial Release, the borrower can dispose of a specific portion of the property, usually related to the collateral, while keeping the lien on the remaining portion intact. The Mississippi Deed of Trust Release document typically includes the following key elements: 1. Granter and Grantee Information: The names and addresses of both the party releasing the interest (granter) and the party receiving the released interest (grantee) are stated, along with their respective roles in the agreement. 2. Property Description: A detailed and accurate description of the property including its address, legal description, and any other identifying information necessary to establish the property's location. 3. Original Deed of Trust Details: Essential information regarding the original deed of trust, such as the date it was executed, the recording information, and the book and page numbers where it was recorded. 4. Release Language: A clear and explicit statement that the lender or beneficiary is releasing any interest or lien they held on the property. It affirms the borrower's full ownership rights and declares the property is no longer encumbered by the original lien. 5. Notary Acknowledgment: A section where the notary public certifies the authenticity of the signatures and attests that the parties involved willingly executed the release in their presence. 6. Recording Information: Space provided to record the details of the release, including the recorder's office, date of recording, and any applicable fees. It is vital to consult an experienced real estate attorney or title professional when dealing with a Mississippi Deed of Trust Release. They can ensure compliance with all legal requirements and offer guidance throughout the process, allowing for a smooth and error-free release of a property's lien.

A Mississippi Deed of Trust Release is an important legal document that serves as proof of releasing a property owner's interest in a property that was previously secured by a deed of trust. It signifies the termination of the lien placed on a property by a lender or beneficiary. In Mississippi, there are two main types of Deed of Trust Releases: 1. Full Release: A Full Release occurs when a borrower successfully pays off the loan secured by the deed of trust. Once the lender receives full payment and all associated fees, they execute a Full Release, officially releasing the lien on the property. This action allows the property owner to claim full ownership without any further encumbrances. 2. Partial Release: A Partial Release can be requested when a borrower pays off a portion of the loan or when additional collateral is added to secure the remaining balance. By obtaining a Partial Release, the borrower can dispose of a specific portion of the property, usually related to the collateral, while keeping the lien on the remaining portion intact. The Mississippi Deed of Trust Release document typically includes the following key elements: 1. Granter and Grantee Information: The names and addresses of both the party releasing the interest (granter) and the party receiving the released interest (grantee) are stated, along with their respective roles in the agreement. 2. Property Description: A detailed and accurate description of the property including its address, legal description, and any other identifying information necessary to establish the property's location. 3. Original Deed of Trust Details: Essential information regarding the original deed of trust, such as the date it was executed, the recording information, and the book and page numbers where it was recorded. 4. Release Language: A clear and explicit statement that the lender or beneficiary is releasing any interest or lien they held on the property. It affirms the borrower's full ownership rights and declares the property is no longer encumbered by the original lien. 5. Notary Acknowledgment: A section where the notary public certifies the authenticity of the signatures and attests that the parties involved willingly executed the release in their presence. 6. Recording Information: Space provided to record the details of the release, including the recorder's office, date of recording, and any applicable fees. It is vital to consult an experienced real estate attorney or title professional when dealing with a Mississippi Deed of Trust Release. They can ensure compliance with all legal requirements and offer guidance throughout the process, allowing for a smooth and error-free release of a property's lien.