Most states have statutes that provide that a mortgage or deed of trust may be partially discharged or released in the county land records by the recorder of deeds. Generally these statutes proved that a certificate must be filed with said recorder and executed by the mortgagee or on its behalf and acknowledged as prescribed by law.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
The Bronx, New York, is one of the five boroughs of New York City. Known for its rich history, diverse community, and vibrant culture, the Bronx offers a unique and bustling environment for both residents and visitors alike. From its world-famous Yankee Stadium to its renowned Bronx Zoo, the borough is teeming with iconic landmarks and attractions. One common legal term associated with mortgage proceedings in the Bronx, New York, is the Partial Release or Satisfaction of Mortgage by a Corporation. This term refers to a legal document that allows a corporation to release or satisfy a portion of the mortgage debt secured by a property. The Bronx, being a bustling urban center with numerous real estate transactions, sees various types of Partial Release or Satisfaction of Mortgage by a Corporation. Some different types include: 1. Partial Release: A corporation, typically a lending institution, issues a partial release of the mortgage when a borrower has paid off a portion of their mortgage debt. This document specifies the property details, the amount paid, the remaining balance, and releases the corporation's claim on that portion of the property. 2. Satisfaction of Mortgage: This type of document is issued by a corporation when the borrower has fully repaid their mortgage debt. It certifies that the loan has been fully satisfied, and the corporation no longer has any claim on the property. 3. Mortgage Modification: In certain cases, a corporation may agree to modify the terms of a mortgage to alleviate financial burden on the borrower. The Partial Release or Satisfaction of Mortgage by a Corporation can then reflect these modified terms and conditions. 4. Subordination Agreement: When a corporation agrees to subordinate its lien position to another creditor or lender, a Partial Release or Satisfaction of Mortgage may be issued. This document acknowledges the change in lien priority and the corporation's consent to subordinate its claim on the property. It is important to note that the exact specifications and requirements for a Partial Release or Satisfaction of Mortgage by a Corporation may vary depending on the jurisdiction, lending institution, and specific mortgage agreement. It is always advisable to consult with legal professionals to ensure compliance and accuracy when dealing with such documents in the Bronx, New York.The Bronx, New York, is one of the five boroughs of New York City. Known for its rich history, diverse community, and vibrant culture, the Bronx offers a unique and bustling environment for both residents and visitors alike. From its world-famous Yankee Stadium to its renowned Bronx Zoo, the borough is teeming with iconic landmarks and attractions. One common legal term associated with mortgage proceedings in the Bronx, New York, is the Partial Release or Satisfaction of Mortgage by a Corporation. This term refers to a legal document that allows a corporation to release or satisfy a portion of the mortgage debt secured by a property. The Bronx, being a bustling urban center with numerous real estate transactions, sees various types of Partial Release or Satisfaction of Mortgage by a Corporation. Some different types include: 1. Partial Release: A corporation, typically a lending institution, issues a partial release of the mortgage when a borrower has paid off a portion of their mortgage debt. This document specifies the property details, the amount paid, the remaining balance, and releases the corporation's claim on that portion of the property. 2. Satisfaction of Mortgage: This type of document is issued by a corporation when the borrower has fully repaid their mortgage debt. It certifies that the loan has been fully satisfied, and the corporation no longer has any claim on the property. 3. Mortgage Modification: In certain cases, a corporation may agree to modify the terms of a mortgage to alleviate financial burden on the borrower. The Partial Release or Satisfaction of Mortgage by a Corporation can then reflect these modified terms and conditions. 4. Subordination Agreement: When a corporation agrees to subordinate its lien position to another creditor or lender, a Partial Release or Satisfaction of Mortgage may be issued. This document acknowledges the change in lien priority and the corporation's consent to subordinate its claim on the property. It is important to note that the exact specifications and requirements for a Partial Release or Satisfaction of Mortgage by a Corporation may vary depending on the jurisdiction, lending institution, and specific mortgage agreement. It is always advisable to consult with legal professionals to ensure compliance and accuracy when dealing with such documents in the Bronx, New York.
