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What is a deed of release mean?

The most common situation is when transferring property from one owner to another. In such cases, a deed of release acts as a binding legal document that removes any previous claim on an asset, thereby allowing the buyer to purchase the property free and clear of encumbrances.

Can you get a deed of trust after buying a house?

A deed of trust is drafted by a solicitor, normally during the conveyancing process when buying, however you can draft a deed of trust after you purchase. You can only have a deed of trust to protect your money in a property if you hold it as tenants in common.

What is a release deed in Maine?

A release deed is a deed whereby the signor releases to the other party any interest if any, they had in the property.

In what circumstances is a partial release usually included?

A partial lien release is a legal contract that enables your lender to release their lien on a part of your mortgaged property. Under the typical terms of a partial release, if you pay down a certain amount of your mortgage principal, your lender will agree to release some of your property from the loan contract.

What is a release property?

Release Property means any Individual Property (other than a Substituted Property) with respect to which the Lien of the related Mortgage has been released (or assigned) by Lender in accordance with the terms of this Agreement.

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