How do I release a lien on a property in Texas?

Once you have paid off a note secured by a deed of trust (a mortgage) against real property, you must record a document called a "release of lien" in the County Clerk's records of the Texas county where the land is located.

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Partial Release of Deed of Trust

Collin Texas Partial Release of Deed of Trust

Name: Collin Texas Partial Release of Deed of Trust
Brand: US Legal Forms
Rating: 4.86 (409 reviews)

Category:

Releases and Waivers - Real Estate

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Multi-State

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Collin

Control #:

US-61437

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Instant download

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.

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How to fill out Collin Texas Partial Release Of Deed Of Trust?

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There are three parties named in a Deed of Trust. The person signing the Deed of Trust is called the Grantor. This is the person that owes the borrowed money. Also called the Borrower. This Grantor is the only person to sign the document.

Once you have paid off a note secured by a deed of trust (a mortgage) against real property, you must record a document called a "release of lien" in the County Clerk's records of the Texas county where the land is located.

In Texas, a release must be filed to clear a deed of trust from title to real property after a loan has been repaid or otherwise satisfied. The payment or other satisfaction of the debt extinguishes the encumbrance, but a recorded release is required to remove the lien as a cloud on title (Ellis v. Waldrop, 656 S.W.

Texas law requires claimants to file a lien release within 10 days after the lien is satisfied, or upon request from the property owner. Failure to release a lien could result in penalties for the lien claimant.

A Release of Deed of Trust is a document signed and executed by the current beneficiary of a Deed of Trust. The release form is submitted to the Public Trustee's Office in the county in which the property is located.

Cancelling a Trust Deed A Trust Deed is a legally binding agreement, so it cannot be revoked at will. If you are unable to pay the instalments which your creditors find acceptable, your Trust Deed may fail. The failure of a Trust Deed will most likely lead to your sequestration so you could lose your belongings.

In Colorado, the Public Trustee processes releases of Deeds of Trust upon payoff or re-finance of a property loan. Recording the release of the corresponding Deed of Trustee lien signifies that the lien is satisfied.

In Colorado, real estate purchases in which the purchaser borrows money to pay for property are typically secured with a Deed of Trust. Rather than a mortgage in which the parties are the borrower and the lender, a Deed of Trust is a three-party agreement among a borrower, a lender, and the county Public Trustee.

A lien on real property in Texas is evidence of a debt, and payment of that debt extinguishes, or releases, the lien. When the underlying debt is paid, the lien holder prepares, signs and certifies a written release that is recorded with the county clerk in the county where the property is located.

In Texas, when the borrower's obligations under the deed of trust are fully satisfied, the lien of the deed of trust is discharged by recording a release of lien (release). A release must be recorded with the county recorder for the deed of trust to be discharged from the public records.

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Collin Texas Partial Release of Deed of Trust

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