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Relinquished Property means a Property sold to a Person which is not the Borrower or an Affiliate thereof, and the proceeds of such sale are held in an exchange account by a Qualified Intermediary, as part of a Section 1031 Exchange.
What is a relinquishment letter?
A relinquishment letter is a transfer or giving up of rights to another person. It signifies that one person is fully transferring property to another person. The relinquishment letter may sound like a quitclaim deed, but it isn't. A quitclaim deed is used to transfer an owner's interest in a property.
sample letter relinquishing rights to property
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relinquish rights to property letter template
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