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A blanket mortgage allows some of the lots of a subdivision to be released and no longer be encumbered. The correct answer is C. It is a partial release clause, thus allowing some of the lots to be released as the note is paid down.
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.
Lenders Release means a letter executed by Lender and submitted by Borrower to a Mortgage Loan Purchaser, specifying the terms for releasing Lenders interest in one or more Mortgage Loans and substantially in the form of Annex 12 hereto.
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.
What Is a Deed of Release? A deed of release is a legal document that removes a previous claim on an asset. It provides documentation of release from a binding agreement. A deed of release might be included when a lender transfers the title of real estate to the homeowner upon satisfaction of the mortgage.
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A mortgagor may request a partial release when they wish to sell a portion of the land on their property.
What is a Mortgage Release? 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.
Once all the money has been fully paid back to the lender a Loan Release Form is created and issued to the borrower relieving them from any liability from the note.
Release clauses are another aspect of mortgage loan contracts. In real estate law, they refer to a provision releasing a creditor from a portion of a collateral claim on real property.
What is a Mortgage Release? 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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