This is a sample form for use in Tennessee, a Affidavit in Support of Marginal Release of Deed of Trust (Category: Mortgages and Deeds of Trust). Adapt to fit your circumstances. Available in standard formats.
The Knoxville Tennessee Affidavit in Support of Marginal Release of Deed of Trust is a legal document used in the state of Tennessee to request the release or removal of a deed of trust on a property. This affidavit provides support and evidence to the relevant authorities or parties involved in the release process. The purpose of this affidavit is to demonstrate that the conditions or obligations stated in the original deed of trust have been met, and the release is warranted. It serves as proof that the borrower has satisfied their financial obligations, such as paying off the mortgage loan, associated with the property. The Knoxville Tennessee Affidavit in Support of Marginal Release of Deed of Trust outlines the necessary information, including the property details, borrower's personal information, lender's information, loan details, and any other relevant documentation. The affidavit highlights the terms and conditions mentioned in the original deed of trust and provides evidence that those conditions have been fulfilled. There are different types of Knoxville Tennessee Affidavit in Support of Marginal Release of Deed of Trust, which include: 1. Residential Marginal Release: This type of affidavit is used when a deed of trust on a residential property is to be released. It is most commonly used for mortgaged homes or residential properties. 2. Commercial Marginal Release: This variant of the affidavit is utilized when dealing with commercial properties, such as office buildings, warehouses, or retail spaces. The conditions and requirements may differ, considering the nature of the property and loan. 3. Additional Collateral Release: In some cases, a lender may require additional collateral for a loan. This form of affidavit is employed to release a specific portion of the collateral which was initially held against the loan. It may be applicable in scenarios where the borrower has met certain conditions, allowing for the release of a portion of the collateral. 4. Partial Release: A partial release affidavit is used when only a portion of the property covered by the deed of trust is being released. This can occur if the borrower has paid off a portion of the loan, and the lender agrees to release the lien on that portion, often for a specific amount or percentage agreed upon between the two parties. In summary, the Knoxville Tennessee Affidavit in Support of Marginal Release of Deed of Trust is a crucial legal document used to request the release of a deed of trust on a property. It acts as evidence that the borrower has fulfilled the requirements stipulated in the original deed of trust. Different variations of this affidavit exist based on the type of property, collateral, or release type required.
