A Hawaii Partial Release of Mortgage/Deed of Trust for Landowner is a legal document that allows a property owner in Hawaii to release a portion of their property from the mortgage or deed of trust. This can be helpful when the owner wants to sell or transfer a portion of the property while keeping the remaining part as collateral for an existing loan. There are different types of Hawaii Partial Release of Mortgage/Deed of Trust for Landowner that cater to various situations. Some common types include: 1. Partial Release of Mortgage for Subdivision: This type of release is used when a landowner wishes to subdivide their property into smaller lots for sale or development purposes. By releasing the mortgage on only the subdivided portion, the owner can transfer ownership and mortgage liability to the buyers while retaining control over the remaining property. 2. Partial Release of Mortgage for Individual Lot Sale: When a landowner plans to sell a specific lot or portion of their property, they can use this type of release to free that section from the mortgage or deed of trust. The release ensures that the buyer can obtain a clear title for the lot, while the landowner can maintain the remaining property as collateral. 3. Partial Release of Mortgage for Joint-Owned Property: In cases where multiple owners jointly own a property and want to divide their interests amongst themselves, this type of release can help. Each owner can release their respective share from the mortgage, enabling individual transfers or sales without affecting the others' portions. 4. Partial Release of Mortgage for Mortgage Refinancing: When a landowner intends to refinance an existing mortgage on their property, they may need to obtain a partial release to include only a portion of the property in the new loan. This release allows the lender to release the specified portion from the existing mortgage while adjusting the terms for the remaining portion. In summary, a Hawaii Partial Release of Mortgage/Deed of Trust for Landowner is a legal tool that allows property owners to release a specific portion of their property from mortgage or deed of trust obligations. Depending on the specific situation, different types of releases can be used, such as those for subdivision, individual lot sales, joint-owned property division, or mortgage refinancing.
Hawaii Partial Release of Mortgage / Deed of Trust For Landowner
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How to fill out Partial Release Of Mortgage / Deed Of Trust For Landowner?
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FAQ
If you will hold title with others, you will have three options to choose from: Tenants in Common, Joint Tenants, and Tenants by the Entirety. We'll expand on each one, as each one deals differently with how your property is transferred upon your death.
Q Get a copy of my deed? You can search for a deed at the Bureau of Conveyances (BOC) official public records search site. For additional questions, please contact the BOC at (808) 587-0154.
A Quitclaim Deed transfers whatever interest the Grantor may have in the property. It makes no guarantees, whatsoever. For example, anyone could Quitclaim their interest in any property whether they owned it or not.
The deed or assignment of lease must be signed (in black ink) by the current owner and the new owner before a notary public. The deed or assignment of lease must be recorded in the State of Hawaii Bureau of Conveyances or Land Court. A Conveyance Tax Certificate must be filed and any tax due must be paid.
We'll record them with the State of Hawaii Bureau of Conveyances and email you the final, recorded copy. Most deed transfers take as little as 2 weeks. We can expedite documents for an additional fee and some transfers can be completed the same day!
Hawaii is a lien theory state and uses mortgages instead of deeds of trust.
