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What is a release clause in a mortgage?

A release clause allows one party to release interest in another partys property. Release clauses can be used in multiple situations, including within a mortgage contract and when selling a property.

Who benefits from a release clause?

Who does release clause benefit? The purpose of a release clause is to limit risk assumptions on behalf of contract parties. However, these protections generally extend to one party and not the other.

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 type of mortgage loan is most likely to have a release clause?

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.

What does release of mortgage mean?

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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