This form authorizes the chancery clerk or the recorder of deeds to release from the deed of trust or mortgage certain property described in the document.
Alabama Deed of Trust - Release
State:
Multi-State
Control #:
US-00489
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Deed Of Trust - Release?
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FAQ
Fees Required to File Alabama Deeds The deed must be recorded in the office of the judge of probate in the county where the property is located.
A deed of release is a legal document that removes a previous claim on an asset. It provides documentation of release from a binding agreement. A deed of release might be included when a lender transfers the title of real estate to the homeowner upon satisfaction of the mortgage.
While most states have either mortgages or deeds of trust, there are a few states that allow you to choose which is better for you. These states include Alabama, Arizona, Arkansas, Illinois, Kentucky, Maryland, Michigan, and Montana.
A deed is a formal legal document (which is always written) that confirms an agreement between parties whereby an interest, right or property, or a binding obligation is created or confirmed.
A deed of release refers to a legal document that eliminates a claim previously made on an asset. It helps with the documentation of release from a mandatory agreement. The deed may be included when a homeowner receives the title of a property from the lender upon satisfactory completion of mortgage payments.
The release clause allows for the freeing of all or part of a property from a claim by the creditor after a proportional amount of the mortgage has been paid. A release clause may also be associated with a real estate brokerage transaction requiring a release of other offers if a specified offer has been accepted.
Through a deed of release of mortgage, also called a release of deed of trust, the lender agrees to remove the deed of trust, which is the document containing all of the mortgage's terms and conditions that is filed at the beginning of the mortgage process.