Wisconsin Partial Release of Deed of Trust

• Category: Releases and Waivers - Real Estate
• State: Multi-State
• Control #: US-61437
• Format: Word; Rich Text

Description

This form is a partial release. A bank releases from a certain deed of trust a particular piece of property described in the document. However, the form provides as to all other property covered by the deed of trust, the lien remains in full effect. A Wisconsin Partial Release of Deed of Trust is a legal document that is used to release a specific portion of a property from the terms of a mortgage or deed of trust. This partial release is typically granted when there is a need to free up a specific portion of the property from the mortgage lien. In Wisconsin, there are two commonly used types of Partial Release of Deed of Trust: 1. Specific Property Release: This type of partial release is used when a specific parcel or portion of the property needs to be released from the mortgage lien. For example, if a large property has multiple buildings and one of the buildings is sold, a specific property release would be used to release only that building from the mortgage. 2. Monetary Release: This type of partial release is used when a certain amount of the loan has been repaid, and the lender agrees to release that portion of the property from the mortgage. This is usually done when the borrower sells a portion of the property and uses the proceeds to pay off a portion of the mortgage. The lender will then release the corresponding portion of the property from the mortgage lien. The Wisconsin Partial Release of Deed of Trust includes important details such as the names of the parties involved, the legal description of the property, the amount being released or the specific property being released, and any necessary signatures. It is important to note that this document must be legally recorded with the county recorder's office to ensure its validity and to provide notice to other interested parties. Keywords: Wisconsin, Partial Release, Deed of Trust, mortgage lien, specific property release, monetary release, legal description, county recorder's office, valid documentation.

A Wisconsin Partial Release of Deed of Trust is a legal document that is used to release a specific portion of a property from the terms of a mortgage or deed of trust. This partial release is typically granted when there is a need to free up a specific portion of the property from the mortgage lien. In Wisconsin, there are two commonly used types of Partial Release of Deed of Trust: 1. Specific Property Release: This type of partial release is used when a specific parcel or portion of the property needs to be released from the mortgage lien. For example, if a large property has multiple buildings and one of the buildings is sold, a specific property release would be used to release only that building from the mortgage. 2. Monetary Release: This type of partial release is used when a certain amount of the loan has been repaid, and the lender agrees to release that portion of the property from the mortgage. This is usually done when the borrower sells a portion of the property and uses the proceeds to pay off a portion of the mortgage. The lender will then release the corresponding portion of the property from the mortgage lien. The Wisconsin Partial Release of Deed of Trust includes important details such as the names of the parties involved, the legal description of the property, the amount being released or the specific property being released, and any necessary signatures. It is important to note that this document must be legally recorded with the county recorder's office to ensure its validity and to provide notice to other interested parties. Keywords: Wisconsin, Partial Release, Deed of Trust, mortgage lien, specific property release, monetary release, legal description, county recorder's office, valid documentation.