US Legal Forms
Release and Cancellation of Trust Agreement - Trust Indenture

Bond With Indenture In King

Category:

Trusts - Termination

State:

Multi-State

County:

King

Control #:

US-00195

Format:

Instant download

Description

The Bond with Indenture in King is a legal document designed to release and cancel a Trust Agreement or Trust Indenture previously recorded. It provides a clear acknowledgment that all obligations related to the Trust Agreement have been fulfilled, thereby allowing for the cancellation of the document and the release of any liens or encumbrances created. This form outlines the necessary steps for the Chancery Clerk to officially enter satisfaction of the Trust Agreement and remove it from the public record. Key features of this form include the identification of parties involved, specific details about the original Trust Agreement, and a notary section for validation. Filling instructions require users to fill in appropriate dates and names, ensuring accuracy in the execution. The form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants tasked with handling real property and trust matters. It allows them to streamline the legal process of canceling trust obligations, thereby facilitating property transactions and ensuring legal compliance. This template serves as an essential resource, enabling users to manage legal documents effectively and support clients in achieving their legal objectives.

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FAQ

The term is used for any kind of deed executed by more than one party, in contrast to a deed poll which is made by one individual. In the case of bonds, the indenture shows the pledge, promises, representations and covenants of the issuing party.

An indenture is a particular formal contract or deed made between two or more parties. Beginning in medieval England, an indenture can be defined as a specific agreement within a contract noted with a specific duration or significance.

A deed made between two or more parties who are not acting as one person. The word indenture originated in the days when the requisite number of copies of a deed would be engrossed onto a single piece of parchment, which would then be cut into individual deeds, with each party holding his own copy.

The Indenture pledges certain revenues as security for repayment of the Bonds. The Trustee agrees to act on behalf of the holders of the Bonds and to represent their interests.

A bond indenture is a contract that describes information related specifically to the issuance or usage of bonds. The term is synonymous with a deed of trust, which is used in financial fields and other areas of business to offer protection to bond issuers and bondholders or investors.

What is the primary purpose of a bond indenture? To specify the bond's features and identify the issuer's sources of repayment. To provide a detailed history of the issuer's past financial performance.

Most corporate bond issues over $5 million are required to include a trust indenture, and to file a copy of it with the SEC.

A covenant is a promise to take an action (an affirmative covenant) or to refrain from taking an action (a negative covenant). Indentures contain a variety of covenants from the issuer to the trustee on behalf of the bondholders.

Lesson Summary. A bond indenture is a contract that describes information related specifically to the issuance or usage of bonds. The term is synonymous with a deed of trust, which is used in financial fields and other areas of business to offer protection to bond issuers and bondholders or investors.