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Partial Release of Property From Mortgage for Corporation - Maine

Partial Release of Property From Mortgage for Corporation - Maine 2025

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The document is a legal instrument for a partial release from a mortgage, detailing the release of specific real property from an existing mortgage while maintaining the mortgage's validity on remaining properties. It includes sections for identification of parties, property details, and execution by authorized representatives.

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Click ‘Get Form’ to open the Partial Release of Property From Mortgage for Corporation - Maine in our editor.
Begin by filling in the 'Prepared by and after Recording Return to' section. Enter the name, firm/company, address, city, state, zip, and phone number.
Locate the Assessor’s Property Tax Parcel/Account Number field and input the relevant number associated with the property.
In the 'KNOW ALL MEN BY THESE PRESENTS' section, provide the name of the corporation releasing the mortgage and fill in details about the original mortgage including date, mortgagor(s), mortgagee, book/page numbers, and document/instrument number.
Attach a legal description of the property as Exhibit A. Ensure it is incorporated by reference as specified.
Complete any applicable sections regarding assignment details if necessary.
Have an authorized officer sign and print their name along with their title under 'IN WITNESS WHEREOF'.
Finally, ensure that a notary public acknowledges the document by filling in their information at the bottom.

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What is a partial discharge of a mortgage?

Partial discharge: Request to release one of the securities on an AMP Loan where there are multiple properties held as security for the loan. Substitution of security: Request to replace an existing security with another security.

What is required for a partial release of mortgage?

Lenders require proof of payment, a survey map, an appraisal, and a letter outlining the reason for the partial release. Borrowers may need to pay fees to the lender and the county recorders office.

When a property is released from a mortgage because it has been paid off by the borrower what document does the lender provide to prove this to be true?

If the borrower pays off the loan without defaulting (as happens in most cases), the beneficiary (lender) will request the trustee execute and record a deed reconveying the property to the borrower. You can find a Deed of Full Reconveyance on the Find A Form page of our website.

What is partial redemption of a mortgage?

Partial repayment of a mortgage is a procedure which returns a portion of the outstanding principal that the bank lent to us, thereby reducing or repaying the debt. There is also complete repayments, where one repays all of the debt and thus repays the mortgage early.

In what circumstances is a partial release usually included?

A partial release is a legal process that allows a homeowner to remove a portion of their property from the lien of their mortgage. This can be necessary when subdividing land, selling off a lot, or making specific property changes that require releasing a portion of the land from the mortgage.

What is the statute of discharge of mortgage in Maine?

A mortgage only may be discharged by a written instrument acknowledging the satisfaction thereof and signed and acknowledged by the mortgagee or by the mortgagees duly authorized officer or agent, personal representative or assignee.

Partial Release of Property From Mortgage for Corporation - Maine 2025

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What is a partial discharge of a mortgage?

What is required for a partial release of mortgage?

When a property is released from a mortgage because it has been paid off by the borrower what document does the lender provide to prove this to be true?

What is partial redemption of a mortgage?

In what circumstances is a partial release usually included?

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What is the statute of discharge of mortgage in Maine?

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Partial Release of Property From Mortgage for Corporation - Maine 2025

Here's how it works

How to use or fill out Partial Release of Property From Mortgage for Corporation - Maine with DocHub

Complete this form in 5 minutes or less

Got questions?

What is a partial discharge of a mortgage?

What is required for a partial release of mortgage?

When a property is released from a mortgage because it has been paid off by the borrower what document does the lender provide to prove this to be true?

What is partial redemption of a mortgage?

In what circumstances is a partial release usually included?

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