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.
Montana Partial Release or Satisfaction of Mortgage by a Corporation is a legal document used to acknowledge the partial satisfaction of a mortgage agreement by a corporation in the state of Montana. This document is typically executed when a borrower or corporation has made partial payments towards their mortgage loan, allowing them to release a portion of the property from the mortgage lien. A Montana Partial Release or Satisfaction of Mortgage by a Corporation includes important details such as the names of the mortgagee (lender), mortgagor (borrower), and the corporation involved. It outlines the original mortgage agreement's details, such as the loan amount, mortgage property description, loan terms, and any additional agreements. Keywords: Montana, Partial Release, Satisfaction of Mortgage, Corporation, legal document, mortgage agreement, borrower, lender, lien, property description, loan terms. There are several types of Montana Partial Release or Satisfaction of Mortgage by a Corporation, including: 1. Voluntary Partial Release: This type occurs when a corporation voluntarily releases a portion of the property from the mortgage lien. This typically happens when the borrower makes sufficient partial payments towards the mortgage loan, reducing the outstanding balance. 2. Involuntary Partial Release: This type takes place when a court orders the partial release of the mortgage lien on specific portions of the property. This generally occurs due to legal disputes or judgments that affect only a portion of the mortgaged property. 3. Specific Partial Release: In this type, the corporation releases a specific part or parcel of the property from the original mortgage lien. It can be a specific lot or specific real estate within the mortgaged property. This type of release is commonly seen in cases where a subdivided property is involved. 4. Blanket Partial Release: A blanket partial release occurs when a corporation releases multiple sections or parcels of the mortgaged property simultaneously. This type is commonly applied when multiple lots or real estate units are released from a mortgage lien altogether. Montana Partial Release or Satisfaction of Mortgage by a Corporation is an essential legal document that protects the rights of both borrowers and lenders. It ensures transparency and clarity in transactions related to mortgage agreements, facilitating property ownership transfers and the release of mortgage liens on specific portions of the property.
