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.
A Suffolk New York Partial Release or Satisfaction of Mortgage by a Corporation is a legal document used in real estate transactions involving corporations and mortgages in Suffolk County, New York. This document signals the release or satisfaction of a specific portion of a mortgage held by a corporation on a property located in Suffolk County. Keywords: Suffolk New York, Partial Release, Satisfaction of Mortgage, Corporation, real estate transactions, mortgages, Suffolk County. Types of Suffolk New York Partial Release or Satisfaction of Mortgage by a Corporation: 1. Partial Release by a Corporation: This type of partial release occurs when a corporation holding a mortgage on a property in Suffolk County agrees to release a specific portion of the mortgage. It may be used when the property owner has made substantial principal payments, resulting in an increased equity value that allows for the release of a part of the mortgage. 2. Partial Satisfaction of Mortgage by a Corporation: This type of partial satisfaction is similar to a partial release, but instead of releasing a portion of the mortgage, the corporation acknowledges that a specific amount has been satisfied. It means that the borrower has fulfilled a portion of the mortgage, reducing the outstanding balance accordingly. 3. Partial Re conveyance by a Corporation: A partial reconveyance occurs when a corporation partially relinquishes its claim on the property securing the mortgage. In this case, the corporation conveys back a portion of the property to the borrower, releasing its interest in that particular portion while still maintaining a mortgage on the remaining part of the property. 4. Partial Discharge by a Corporation: A partial discharge is similar to a partial satisfaction, where the corporation acknowledges that a specific amount of the mortgage debt has been discharged. This type of release may occur when the borrower pays off a part of the mortgage, resulting in a reduction of the overall debt obligation. 5. Partial Lien Release by a Corporation: In situations where multiple liens exist on a property, a corporation can execute a partial lien release to release its claim on a specific portion of the property. It allows the borrower to handle any encumbrances or potential sales affecting only a portion of the property. It's important to note that all Suffolk New York Partial Release or Satisfaction of Mortgage documents must adhere to the legal requirements and guidelines set forth by Suffolk County and the state of New York. Furthermore, it is advisable to consult with a legal professional or real estate attorney when dealing with these documents to ensure compliance and accuracy.A Suffolk New York Partial Release or Satisfaction of Mortgage by a Corporation is a legal document used in real estate transactions involving corporations and mortgages in Suffolk County, New York. This document signals the release or satisfaction of a specific portion of a mortgage held by a corporation on a property located in Suffolk County. Keywords: Suffolk New York, Partial Release, Satisfaction of Mortgage, Corporation, real estate transactions, mortgages, Suffolk County. Types of Suffolk New York Partial Release or Satisfaction of Mortgage by a Corporation: 1. Partial Release by a Corporation: This type of partial release occurs when a corporation holding a mortgage on a property in Suffolk County agrees to release a specific portion of the mortgage. It may be used when the property owner has made substantial principal payments, resulting in an increased equity value that allows for the release of a part of the mortgage. 2. Partial Satisfaction of Mortgage by a Corporation: This type of partial satisfaction is similar to a partial release, but instead of releasing a portion of the mortgage, the corporation acknowledges that a specific amount has been satisfied. It means that the borrower has fulfilled a portion of the mortgage, reducing the outstanding balance accordingly. 3. Partial Re conveyance by a Corporation: A partial reconveyance occurs when a corporation partially relinquishes its claim on the property securing the mortgage. In this case, the corporation conveys back a portion of the property to the borrower, releasing its interest in that particular portion while still maintaining a mortgage on the remaining part of the property. 4. Partial Discharge by a Corporation: A partial discharge is similar to a partial satisfaction, where the corporation acknowledges that a specific amount of the mortgage debt has been discharged. This type of release may occur when the borrower pays off a part of the mortgage, resulting in a reduction of the overall debt obligation. 5. Partial Lien Release by a Corporation: In situations where multiple liens exist on a property, a corporation can execute a partial lien release to release its claim on a specific portion of the property. It allows the borrower to handle any encumbrances or potential sales affecting only a portion of the property. It's important to note that all Suffolk New York Partial Release or Satisfaction of Mortgage documents must adhere to the legal requirements and guidelines set forth by Suffolk County and the state of New York. Furthermore, it is advisable to consult with a legal professional or real estate attorney when dealing with these documents to ensure compliance and accuracy.
