This form is an Authority to Release. The county clerk is authorized and requested to release from a deed of trust a parcel of land to the executor of the estate. The form must be signed in the presence of a notary public.
The Michigan Authority to Release of Deed of Trust is a legal document that authorizes the release of a deed of trust or mortgage lien on a property located in the state of Michigan. This document is typically used when the borrower has fully paid off their mortgage or when the loan has been satisfied through refinancing or sale of the property. The Authority to Release of Deed of Trust is a crucial step in the real estate transaction process as it provides legal proof that the mortgage has been fully paid and the lender no longer has a claim on the property. This document is recorded with the county clerk's office where the property is located. Once recorded, the release of the deed of trust becomes public record, ensuring that the property title is clear for future transactions. There are a few different types of Michigan Authority to Release of Deed of Trust, depending on the specific circumstances. These include: 1. Full Satisfaction: This type of release is used when the borrower has completely paid off the mortgage loan, including all interest and fees. It signifies that the lender's rights to the property have been fully satisfied. 2. Partial Release: Sometimes, a borrower may have multiple loans secured by the same property. In such cases, a partial release of deed of trust can be used to release a specific portion of the property from the mortgage lien. This is often seen in situations where the borrower wants to sell a portion of the property while retaining the mortgage on the remaining portion. 3. Subordination: A subordination release of deed of trust is utilized when the lender agrees to subordinate their mortgage lien to a new lender or a different debt. This allows the new debt to take priority over the existing mortgage lien, which may be necessary for refinancing or obtaining additional financing. The Michigan Authority to Release of Deed of Trust is a vital legal document that protects the rights of both borrowers and lenders in real estate transactions. It ensures that the proper documentation is filed with the appropriate authorities, providing a clear record of the property's ownership and title status. If you find yourself in a situation where the release of deed of trust is required, it is advisable to consult with a qualified attorney or title company experienced in Michigan real estate laws to ensure compliance and avoid any potential issues.
