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Application for partial release subordination or consent form

Application for partial release subordination or consent form 2025

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The document is Form RD 465-1, an application for partial release, subordination, or consent related to loans managed by the United States Department of Agriculture's Rural Development and Farm Service Agency. It outlines the process for borrowers to request changes to the liens on their property, including details about prior lienholders, property descriptions, intended use of proceeds from transactions, and compliance with regulations regarding land use. The form also includes sections for borrower signatures and agency approval.

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What does partial release mean?

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 release of collateral letter?

A partial release letter is typically given by a lender to a borrower after the borrower fulfils certain conditions under a secured loan agreement. This standard document has integrated notes with important explanations and drafting and negotiating tips.

What is a partial release form?

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 partial discharge of a loan?

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 the purpose of a partial lien waiver?

A Partial Lien Waiver, in the construction industry, refers to a legal document drafted to provide assurance to a payer that a contractor, subcontractor or materials supplier has received specified payments and waives its right to place a lien on the construction project to the extent of received payments.

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