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Discharge of mortgage form michigan

Partial Release of Property From Mortgage for Corporation - Michigan 2026

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The document is a legal instrument for a partial release from a mortgage, detailing the parties involved, property description, and acknowledgment by a notary public. It confirms that while part of the mortgage is released, the remaining mortgage obligations remain in effect.

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Click ‘Get Form’ to open the Partial Release of Property From Mortgage for Corporation - Michigan in the editor.
Begin by filling in the 'Prepared by and after Recording Return to' section. Enter your name, firm/company, address, city, state, zip code, and phone number.
Next, locate the Assessor’s Property Tax Parcel/Account Number field and input the relevant number associated with the property.
In the main body of the form, specify the mortgage details including the date of the mortgage, names of mortgagor(s) and mortgagee, and recording information such as Book and Document/Instrument numbers.
Attach a legal description of the property as Exhibit A. Ensure this is accurately referenced in the form.
Complete any applicable sections regarding assignment details if you are not the original mortgage holder.
Finally, have an authorized representative sign and date the document. Include their title and printed name below their signature.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is a partial release clause in mortgage?

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.

What is a partial mortgage discharge?

What is a partial discharge? A partial discharge occurs when you have more than one property securing your home loan facility and you want to release or sell one or more, leaving the facility open.

What is needed for a partial release of mortgage?

A partial release allows the release of a portion of the collateral from a mortgage after the borrower has paid down a certain amount of the loan. Lenders require proof of payment, a survey map, an appraisal, and a letter outlining the reason for the partial release.

What is a clause that releases a specific portion of a property from a mortgage upon full payment for that portion?

A Partial Release of Mortgage clause allows a borrower to have a specific portion of the mortgaged property released from the mortgage lien while the remainder stays as collateral for the loan.

Can a corporation take out a mortgage?

LLCs and corporations can get mortgages, but financing options are more limited than for individuals. Commercial and portfolio loans are common paths for businesses seeking mortgages.

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Is a partial release difficult?

Every lender has different requirements for approving a partial release. Some may require additional payments to adjust the loan-to-value ratio, while others might need specific documentation or approvals. Always start by consulting your lender to understand their process.

Partial Release of Property From Mortgage for Corporation - Michigan 2026

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