Wayne Michigan Discharge of Real Estate Retention Agreement (Single Person)

• Category: Michigan Releases and Waivers
• State: Michigan
• County: Wayne
• Control #: MI-LR055T
• Format: Word; Rich Text

Description

This form discharges the retention agreement entered into by a single person. This original agreement is recorded as a lien against the property for which assistance is provided. The Wayne Michigan Discharge of Real Estate Retention Agreement (Single Person) is a legal document that releases a single individual from any obligations imposed by a previous agreement related to the retention of real estate. This agreement typically involves a borrower or property owner who seeks to terminate a previously made agreement with a lender or beneficiary. In Wayne County, Michigan, several types of Discharge of Real Estate Retention Agreements (Single Person) may exist, each serving a specific purpose based on the circumstances of the real estate transaction. These types include: 1. Mortgage Discharge of Real Estate Retention Agreement: This agreement is commonly used when a borrower or property owner wishes to release their obligations under a mortgage contract. Once the agreement is executed, it frees the person from any further responsibilities, such as mortgage payments or compliance with specific mortgage terms. 2. Deed of Trust Discharge of Real Estate Retention Agreement: Often utilized in situations where a property was secured using a deed of trust, this agreement allows a single person to remove themselves from the responsibilities stated within the deed. It ensures that they are no longer liable for any obligations attached to the deed of trust and releases any encumbrances on the property. 3. Land Contract Discharge of Real Estate Retention Agreement: When a property is acquired through a land contract, this agreement provides the means for a single person to be released from their obligations outlined in the original contract. It releases the buyer from any further obligations regarding the payments and terms of the land contract. 4. Leasehold Discharge of Real Estate Retention Agreement: In cases where a single person holds a leasehold interest in a property, this agreement is employed to relieve them from the obligations stated in the lease. The agreement terminates their responsibilities, such as rent payments and lease compliance, enabling them to move on from the property without further obligations. The Wayne Michigan Discharge of Real Estate Retention Agreement (Single Person) is a crucial legal document that allows individuals to effectively terminate their obligations associated with real estate retention. It provides a clear and legally binding means for single persons to release themselves from any obligations tied to mortgages, deeds of trust, land contracts, or leasehold interests, consequently freeing them from further liabilities and allowing them to pursue other avenues with peace of mind.

The Wayne Michigan Discharge of Real Estate Retention Agreement (Single Person) is a legal document that releases a single individual from any obligations imposed by a previous agreement related to the retention of real estate. This agreement typically involves a borrower or property owner who seeks to terminate a previously made agreement with a lender or beneficiary. In Wayne County, Michigan, several types of Discharge of Real Estate Retention Agreements (Single Person) may exist, each serving a specific purpose based on the circumstances of the real estate transaction. These types include: 1. Mortgage Discharge of Real Estate Retention Agreement: This agreement is commonly used when a borrower or property owner wishes to release their obligations under a mortgage contract. Once the agreement is executed, it frees the person from any further responsibilities, such as mortgage payments or compliance with specific mortgage terms. 2. Deed of Trust Discharge of Real Estate Retention Agreement: Often utilized in situations where a property was secured using a deed of trust, this agreement allows a single person to remove themselves from the responsibilities stated within the deed. It ensures that they are no longer liable for any obligations attached to the deed of trust and releases any encumbrances on the property. 3. Land Contract Discharge of Real Estate Retention Agreement: When a property is acquired through a land contract, this agreement provides the means for a single person to be released from their obligations outlined in the original contract. It releases the buyer from any further obligations regarding the payments and terms of the land contract. 4. Leasehold Discharge of Real Estate Retention Agreement: In cases where a single person holds a leasehold interest in a property, this agreement is employed to relieve them from the obligations stated in the lease. The agreement terminates their responsibilities, such as rent payments and lease compliance, enabling them to move on from the property without further obligations. The Wayne Michigan Discharge of Real Estate Retention Agreement (Single Person) is a crucial legal document that allows individuals to effectively terminate their obligations associated with real estate retention. It provides a clear and legally binding means for single persons to release themselves from any obligations tied to mortgages, deeds of trust, land contracts, or leasehold interests, consequently freeing them from further liabilities and allowing them to pursue other avenues with peace of mind.