Tarrant Texas Partial Release of Mortgage / Deed of Trust

Name: Tarrant Texas Partial Release of Mortgage / Deed of Trust
Brand: US Legal Forms
Rating: 4.81 (471 reviews)

Category:

Oil Gas and Minerals - Releases

State:

Multi-State

County:

Tarrant

Control #:

US-OG-128

Format:

Instant download

Description

This form provides for a partial release of a mortgage/deed of trust on lands. A Tarrant Texas Partial Release of Mortgage/Deed of Trust is a legal document commonly used in real estate transactions to release a portion of property from an existing mortgage or deed of trust. This release is typically requested when the property owner wishes to sell or transfer a portion of their property while keeping the remaining portion as collateral for the remaining mortgage or deed of trust. In Tarrant County, Texas, several types of partial releases exist depending on the specific circumstances: 1. Tarrant Texas Partial Release of Mortgage/Deed of Trust for Property Division: This type of release is commonly used in divorce cases where joint property is split between the spouses. It allows for the release of one party's interest in a specific portion of the property while ensuring the remaining portion remains encumbered by the mortgage or deed of trust. 2. Tarrant Texas Partial Release of Mortgage/Deed of Trust for Subdivision: In cases where a property owner wishes to subdivide their land while keeping a portion or selling individual lots, a partial release can be requested. This allows for the release of a specific section of the property from the existing mortgage or deed of trust. 3. Tarrant Texas Partial Release of Mortgage/Deed of Trust for Sale or Transfer: When a property owner wishes to sell or transfer a portion of their property while keeping the remaining portion as collateral, this type of release can be utilized. It allows for the release of the specific portion being sold or transferred, ensuring the remaining portion remains subject to the mortgage or deed of trust. The Tarrant Texas Partial Release of Mortgage/Deed of Trust provides a legal framework for the release of a specific portion of a property while maintaining the lender's security interest in the remaining portion. It is important to consult with a qualified attorney or title company to ensure compliance with all applicable laws and requirements when seeking a partial release in Tarrant County, Texas.

A Tarrant Texas Partial Release of Mortgage/Deed of Trust is a legal document commonly used in real estate transactions to release a portion of property from an existing mortgage or deed of trust. This release is typically requested when the property owner wishes to sell or transfer a portion of their property while keeping the remaining portion as collateral for the remaining mortgage or deed of trust. In Tarrant County, Texas, several types of partial releases exist depending on the specific circumstances: 1. Tarrant Texas Partial Release of Mortgage/Deed of Trust for Property Division: This type of release is commonly used in divorce cases where joint property is split between the spouses. It allows for the release of one party's interest in a specific portion of the property while ensuring the remaining portion remains encumbered by the mortgage or deed of trust. 2. Tarrant Texas Partial Release of Mortgage/Deed of Trust for Subdivision: In cases where a property owner wishes to subdivide their land while keeping a portion or selling individual lots, a partial release can be requested. This allows for the release of a specific section of the property from the existing mortgage or deed of trust. 3. Tarrant Texas Partial Release of Mortgage/Deed of Trust for Sale or Transfer: When a property owner wishes to sell or transfer a portion of their property while keeping the remaining portion as collateral, this type of release can be utilized. It allows for the release of the specific portion being sold or transferred, ensuring the remaining portion remains subject to the mortgage or deed of trust. The Tarrant Texas Partial Release of Mortgage/Deed of Trust provides a legal framework for the release of a specific portion of a property while maintaining the lender's security interest in the remaining portion. It is important to consult with a qualified attorney or title company to ensure compliance with all applicable laws and requirements when seeking a partial release in Tarrant County, Texas.

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How to fill out Tarrant Texas Partial Release Of Mortgage / Deed Of Trust?

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FAQ

Key Takeaways. A partial release is a mortgage provision that allows some of the collateral to be released from a mortgage after the borrower pays a certain amount of the loan. Lenders require proof of payment, a survey map, appraisal, and a letter outlining the reason for the partial release.

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.

A form of partial reconveyance of real property in California by a trustee under a deed of trust for use when the beneficiary (lender) agrees to release a portion of the real property from the lien of the deed of trust while the trustor's (borrower's) obligations are not yet fully satisfied.

Which situation would require a partial release? A borrower who wishes to sell a property that is part of a blanket mortgage(multiple properties and one mortgage loan) would need the lender to issue a partial release on the property being sold to release the lien and give the property a clean title.

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.

This document officially discharges you from the debt obligation and removes the lien against the property. The lender should send a copy of the discharge to you, and also to the closing attorney and settlement agent if you're selling the property.

If the loan is completely paid off (either before or at the end of the loan term), the Trustee is responsible for dissolving the Trust and transferring the legal title over to the new owner (the borrower).

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.

What is the distinction between a release and a discharge? With a release, your creditor confirms that all the sums due have been paid. The document certifies that the property is mortgage-free. The discharge releases only part of the property or only one of the individuals responsible for the mortgage payments.

A Mortgage Release is where you, the homeowner, voluntarily transfer the ownership of your property to the owner of your mortgage in exchange for a release from your mortgage loan and payments.

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Note, the parties to a deed of trust might agree to a partial release if partial payment is made on the mortgage debt. Texas is one of the few states that is a "deed of trust" state.Of the limitations on admission and release of Obligated Group Members. Floor as set out in Attachment 1 to Exhibit 7 to the Agreement. Texas Department of Transportation. P. Establishment of Pooled Trust Subaccount – Attorney Ad Litem . Project Title: Support to Historic Bridges in the Fort Worth District. Performed in cooperation with the. Et ux, partial release. Jean Jack Provost et ux to Don Moore et ux, warranty deed.

Tarrant Texas Partial Release of Mortgage / Deed of Trust

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How to fill out Tarrant Texas Partial Release Of Mortgage / Deed Of Trust?

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How does a partial release of mortgage work?

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