Wake North Carolina Partial Release of Mortgage / Deed of Trust For Landowner

• Category: Oil Gas and Minerals - Releases
• State: Multi-State
• County: Wake
• Control #: US-OG-549
• Format: Word; Rich Text

Description

This form provides for a partial release of a mortgage/deed of trust on lands. A Wake North Carolina Partial Release of Mortgage/Deed of Trust for Landowner is a legal document that allows the release of a portion of the property that was initially used as collateral for a mortgage or deed of trust. This process can be executed when a landowner wants to sell a section of their property or when specific areas of the land are no longer necessary to secure the original loan. A Partial Release of Mortgage/Deed of Trust is commonly utilized in scenarios where a landowner owns extensive property and wishes to sell a portion of it while keeping the remaining land as collateral. This document ensures that the lien is removed from the released portion of the property, freeing it from any claims held by the original lender. Key areas of the Wake North Carolina Partial Release of Mortgage/Deed of Trust for Landowner include: 1. Property description: The document should start with a comprehensive and accurate description of the property being subject to the partial release. This may include details such as the property address, parcel number, and legal description to ensure clarity. 2. Lender details: The release should specify the name and contact information of the original lender who holds the mortgage or deed of trust on the property. This ensures that the correct lien holder is identified and acknowledged in the document. 3. Release provision: This section outlines the specific portion or area of the property being released from the mortgage or deed of trust. It may include details on acreage, boundaries, or any other defining features to distinguish the portion being released. 4. Consideration: If there is any monetary consideration involved in the partial release, it should be clearly stated in this section. This may include the agreed-upon payment made by the landowner for the release of the specified area. 5. Legal execution: The document must be signed and notarized by all parties involved, including the landowner and the lender. This ensures the validity and enforceability of the partial release. It is essential to note that the Wake North Carolina Partial Release of Mortgage/Deed of Trust for Landowner can have different types depending on the specific circumstances. Some common variations might include partial releases for subdivisions, where a landowner wants to sell individual lots within a larger parcel of land, or partial releases for development projects, where certain portions of land are designated for building or other purposes. In summary, the Wake North Carolina Partial Release of Mortgage/Deed of Trust for Landowner is a crucial legal document that allows landowners to remove specific portions of their property from the original mortgage or deed of trust. This provides flexibility and the opportunity to sell or develop sections of land while retaining the security of the remaining property.

A Wake North Carolina Partial Release of Mortgage/Deed of Trust for Landowner is a legal document that allows the release of a portion of the property that was initially used as collateral for a mortgage or deed of trust. This process can be executed when a landowner wants to sell a section of their property or when specific areas of the land are no longer necessary to secure the original loan. A Partial Release of Mortgage/Deed of Trust is commonly utilized in scenarios where a landowner owns extensive property and wishes to sell a portion of it while keeping the remaining land as collateral. This document ensures that the lien is removed from the released portion of the property, freeing it from any claims held by the original lender. Key areas of the Wake North Carolina Partial Release of Mortgage/Deed of Trust for Landowner include: 1. Property description: The document should start with a comprehensive and accurate description of the property being subject to the partial release. This may include details such as the property address, parcel number, and legal description to ensure clarity. 2. Lender details: The release should specify the name and contact information of the original lender who holds the mortgage or deed of trust on the property. This ensures that the correct lien holder is identified and acknowledged in the document. 3. Release provision: This section outlines the specific portion or area of the property being released from the mortgage or deed of trust. It may include details on acreage, boundaries, or any other defining features to distinguish the portion being released. 4. Consideration: If there is any monetary consideration involved in the partial release, it should be clearly stated in this section. This may include the agreed-upon payment made by the landowner for the release of the specified area. 5. Legal execution: The document must be signed and notarized by all parties involved, including the landowner and the lender. This ensures the validity and enforceability of the partial release. It is essential to note that the Wake North Carolina Partial Release of Mortgage/Deed of Trust for Landowner can have different types depending on the specific circumstances. Some common variations might include partial releases for subdivisions, where a landowner wants to sell individual lots within a larger parcel of land, or partial releases for development projects, where certain portions of land are designated for building or other purposes. In summary, the Wake North Carolina Partial Release of Mortgage/Deed of Trust for Landowner is a crucial legal document that allows landowners to remove specific portions of their property from the original mortgage or deed of trust. This provides flexibility and the opportunity to sell or develop sections of land while retaining the security of the remaining property.