Most states have statutes that provide that a mortgage or deed of trust may be partially discharged or released in the county land records by the recorder of deeds. Generally these statutes proved that a certificate must be filed with said recorder and executed by the mortgagee or on its behalf and acknowledged as prescribed by law.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
In Arkansas, a Partial Release or Satisfaction of Mortgage by a Corporation refers to a legal document that releases a portion of a property from the lien created by a mortgage held by a corporation. This partial release allows the property owner to sell, transfer, or refinance the released portion of the property without affecting the remaining portion covered by the mortgage. When a corporation grants a mortgage loan to a property owner, it creates a lien on the entire property. However, there may be instances where the property owner wishes to release a specific portion of the property from this lien, either to sell that portion or for other purposes. In such cases, the corporation holding the mortgage can execute a Partial Release or Satisfaction of Mortgage. This document identifies the specific portion of the property being released from the mortgage lien, typically through a detailed legal description or property identification number. It also mentions the amount of debt or mortgage balance that remains after the release, taking into account the partial satisfaction of the mortgage. The Arkansas Partial Release or Satisfaction of Mortgage by a Corporation serves as proof that the mortgage holder has agreed to release a portion of the property from the mortgage lien, allowing the property owner to proceed with their intended actions for the released portion. This document is often recorded in the county land records office to provide a public record of the partial release and ensure that the released portion is free from the mortgage encumbrance. While there may not be different types of Arkansas Partial Release or Satisfaction of Mortgage by a Corporation, it's important to note that the specific requirements and procedures for executing this document may vary depending on the county or jurisdiction within Arkansas. It is advisable for both the corporation and property owner to consult with an attorney or a title company knowledgeable in real estate law to ensure compliance with the appropriate legal procedures and to address any specific circumstances or complexities related to the partial release.
