Oklahoma Release of Lien for Real Estate

• Category: Liens - Releases and Waivers
• State: Multi-State
• Control #: US-01775-AZ-7
• Format: Word; Rich Text

Description

This form is a release of a lien. The form provides that the lienholder chooses to release a certain parcel of property and the owner from all liability arising from the labor performed and materials furnished by the lienholder under the terms of a contract mentioned in the document. An Oklahoma Release of Lien for Real Estate is a legal document used to release or cancel a lien that has been placed on a property. A lien is a legal claim against a property that has been filed by a creditor to secure payment for a debt. Once the debt is satisfied, the lien holder must release the lien to clear the property title. In Oklahoma, there are different types of Release of Lien for Real Estate documents based on the specific circumstances and parties involved. Some common types include: 1. Conditional Release of Lien: This type of release is used when a partial payment has been made towards the debt but not the full amount. It acknowledges the partial payment and releases a portion of the lien based on the payment received. 2. Unconditional Release of Lien: An unconditional release is issued when the full payment has been made, thereby releasing the lien and clearing the property title completely. 3. Final Release of Lien: This type of release is used when the entire debt has been repaid, and there are no further obligations remaining. It provides a complete release of the lien and certifies that the lien holder no longer has any claim against the property. 4. Partial Release of Lien: If multiple properties are covered by a single lien, a partial release can be issued for a specific property or portion of the debt paid off. This allows the property owner to clear a specific property from the lien while maintaining the lien on the remaining properties. When drafting a Release of Lien for Real Estate in Oklahoma, it is essential to include certain key details. These may include the property address, legal description, information about the lien holder (creditor), debtor (property owner), the amount of the debt, date of the original lien filing, and any reference or recording information related to the original lien. Additionally, the release document should explicitly state the intention to release the lien and declare that all obligations have been satisfied. It should be executed by the lien holder and notarized to ensure its authenticity and to make it legally binding. It is crucial to consult with legal professionals or seek guidance from the appropriate county officials to ensure compliance with state laws and requirements when preparing an Oklahoma Release of Lien for Real Estate.

An Oklahoma Release of Lien for Real Estate is a legal document used to release or cancel a lien that has been placed on a property. A lien is a legal claim against a property that has been filed by a creditor to secure payment for a debt. Once the debt is satisfied, the lien holder must release the lien to clear the property title. In Oklahoma, there are different types of Release of Lien for Real Estate documents based on the specific circumstances and parties involved. Some common types include: 1. Conditional Release of Lien: This type of release is used when a partial payment has been made towards the debt but not the full amount. It acknowledges the partial payment and releases a portion of the lien based on the payment received. 2. Unconditional Release of Lien: An unconditional release is issued when the full payment has been made, thereby releasing the lien and clearing the property title completely. 3. Final Release of Lien: This type of release is used when the entire debt has been repaid, and there are no further obligations remaining. It provides a complete release of the lien and certifies that the lien holder no longer has any claim against the property. 4. Partial Release of Lien: If multiple properties are covered by a single lien, a partial release can be issued for a specific property or portion of the debt paid off. This allows the property owner to clear a specific property from the lien while maintaining the lien on the remaining properties. When drafting a Release of Lien for Real Estate in Oklahoma, it is essential to include certain key details. These may include the property address, legal description, information about the lien holder (creditor), debtor (property owner), the amount of the debt, date of the original lien filing, and any reference or recording information related to the original lien. Additionally, the release document should explicitly state the intention to release the lien and declare that all obligations have been satisfied. It should be executed by the lien holder and notarized to ensure its authenticity and to make it legally binding. It is crucial to consult with legal professionals or seek guidance from the appropriate county officials to ensure compliance with state laws and requirements when preparing an Oklahoma Release of Lien for Real Estate.