Tennessee Partial Release of Mortgage / Deed of Trust

• Category: Oil Gas and Minerals - Releases
• State: Multi-State
• Control #: US-OG-128
• Format: Word; Rich Text

Description

This form provides for a partial release of a mortgage/deed of trust on lands. A Tennessee Partial Release of Mortgage/Deed of Trust is a legal document used to release a portion of property from a mortgage or deed of trust. This release allows the property owner to sell, transfer, or refinance a specific parcel of land without affecting the entire mortgage or deed of trust. In Tennessee, there are two common types of partial releases: partial releases based on acreage and partial releases based on lots or parcels. 1. Partial Release based on Acreage: This type of partial release is used when the property in question consists of multiple parcels or lots, and the borrower wants to release a specific acreage from the mortgage or deed of trust. This allows the property owner to retain ownership of the remaining acreage while freeing the released portion from the lien. 2. Partial Release based on Lots or Parcels: This type of partial release is used when the borrower wants to release a particular lot or parcel from the mortgage or deed of trust. It allows the property owner to sell or transfer a specific portion of their property while keeping the remaining lots or parcels intact and under the lien of the mortgage or deed of trust. The Tennessee Partial Release of Mortgage/Deed of Trust must be executed by the lender or their authorized representative and recorded with the appropriate county recorder's office where the property is located. It is essential to ensure that all legal requirements are met to validate the release and guarantee clear title for the released portion. This document should include details such as the borrower's name, property description, legal description, and the specific portion or parcel being released. It may also include the loan or mortgage account number, the original mortgage or deed of trust date, and any relevant signatures or notarization. By obtaining a Tennessee Partial Release of Mortgage/Deed of Trust, property owners can effectively manage their real estate transactions without having to release the entire mortgage or deed of trust. It offers the flexibility to use or sell parts of their property independently while maintaining the mortgage or lien on the remaining portions.

A Tennessee Partial Release of Mortgage/Deed of Trust is a legal document used to release a portion of property from a mortgage or deed of trust. This release allows the property owner to sell, transfer, or refinance a specific parcel of land without affecting the entire mortgage or deed of trust. In Tennessee, there are two common types of partial releases: partial releases based on acreage and partial releases based on lots or parcels. 1. Partial Release based on Acreage: This type of partial release is used when the property in question consists of multiple parcels or lots, and the borrower wants to release a specific acreage from the mortgage or deed of trust. This allows the property owner to retain ownership of the remaining acreage while freeing the released portion from the lien. 2. Partial Release based on Lots or Parcels: This type of partial release is used when the borrower wants to release a particular lot or parcel from the mortgage or deed of trust. It allows the property owner to sell or transfer a specific portion of their property while keeping the remaining lots or parcels intact and under the lien of the mortgage or deed of trust. The Tennessee Partial Release of Mortgage/Deed of Trust must be executed by the lender or their authorized representative and recorded with the appropriate county recorder's office where the property is located. It is essential to ensure that all legal requirements are met to validate the release and guarantee clear title for the released portion. This document should include details such as the borrower's name, property description, legal description, and the specific portion or parcel being released. It may also include the loan or mortgage account number, the original mortgage or deed of trust date, and any relevant signatures or notarization. By obtaining a Tennessee Partial Release of Mortgage/Deed of Trust, property owners can effectively manage their real estate transactions without having to release the entire mortgage or deed of trust. It offers the flexibility to use or sell parts of their property independently while maintaining the mortgage or lien on the remaining portions.