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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.
A deed must be recorded with the county recorders office to effectively transfer property. The deed must contain the name of the first party, also called the seller or grantor, and their mailing address. It must also contain the name of the second party, the buyer or grantee, and their mailing address.
(1) All deeds, mortgages and other instruments required by law to be recorded to be effectual against purchasers without notice, or creditors, shall be recorded in the county clerks office of the county in which the property conveyed, or the greater part thereof, is located.
A partial release of a mortgage involves dividing a property so that part of the property no longer is connected to the obligation of the mortgage loan. Obtaining a partial release when youve paid down a substantial portion of your mortgage can allow you to sell off part of the property free and clear.
A release clause is a term that refers to a provision within a mortgage contract. The release clause allows for the freeing of all or part of a property from a claim by the creditor after a proportional amount of the mortgage has been paid.
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The release clause, also known as a buyout clause is a contract provision that allows for the freeing of all, or part of a property, through a proportional or full amount of the mortgage being paid. This clause is usually seen in blanket mortgages.
Partial Release Clause is a provision under which the mortgagee agrees to release certain parcels from the lien of the blanket mortgage upon payment of a certain sum of money by the mortgagor. Its frequently found in tract development construction loans.
by Practical Law Finance. A standard form deed of release by which a lender releases some, but not all, of the mortgages and charges granted to it by a security provider under a security agreement.
Race-Notice Statute. Under a race-notice statute, a later purchaser of an interest has the priority interest if the later purchaser is a bona fide purchaser and records the interest first in time. The bona fide purchaser cannot have constructive, actual, or inquiry notice of any other claim against the property.
Since Ohio is a largely race/notice state as to the order of recordation of instruments (whoever records first without actual notice of someone elses interest in the property wins the contest for priority), the later-recorded deed or mortgage would lose priority to an instrument intervening beforehand.

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