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.
A New Mexico Partial Release or Satisfaction of Mortgage by a Corporation refers to a legal document executed by a corporation that holds a mortgage on a property in New Mexico. This document acts as proof that a portion of the mortgage loan has been repaid, and releases the lien on the specific portion of the property mentioned in the release. Keyword: New Mexico, Partial Release or Satisfaction of Mortgage, Corporation In New Mexico, there are various types of Partial Release or Satisfaction of Mortgage depending on the specific circumstances. Some common types include: 1. Partial Release of Mortgage: This type of release is executed when a corporation holding a mortgage on a property agrees to release a specific portion of the property from the mortgage lien. It typically occurs when a borrower has repaid a certain portion of the mortgage loan and wants to free that part of the property from the mortgage. 2. Partial Satisfaction of Mortgage: This document is similar to a partial release but is used when the borrower pays a partial amount of the mortgage, reducing the overall loan amount owed to the corporation. It acknowledges the partial satisfaction of the mortgage and adjusts the remaining balance accordingly. 3. Corporation's Consent to Partial Release or Satisfaction: In some cases, the corporation holding the mortgage may require written consent before executing a partial release or satisfaction. This protects the corporation's interests and ensures all parties involved are in agreement before releasing a portion of the mortgage. 4. Assignment and Partial Release of Mortgage: This type of release occurs when a corporation transfers their interest in the mortgage to another party while simultaneously releasing a portion of the mortgage lien. It allows the new mortgage holder to take over the responsibility of the remaining mortgage while freeing the designated part of the property. It is crucial for corporations to ensure that the appropriate legal procedures and requirements are followed when executing a Partial Release or Satisfaction of Mortgage in New Mexico. This typically involves drafting a comprehensive document that clearly identifies the property, specifies the released portion, and acknowledges the partial satisfaction or release of the mortgage. Seeking legal guidance and consultation is recommended to ensure adherence to all relevant laws and regulations. In conclusion, a New Mexico Partial Release or Satisfaction of Mortgage by a Corporation is a legal document that allows a corporation holding a mortgage on a property to release or satisfy a specific portion of the mortgage lien. By using the appropriate keywords, one can understand the different types of partial releases or satisfactions, such as partial release of mortgage, partial satisfaction of mortgage, corporation's consent to partial release or satisfaction, and assignment and partial release of mortgage.
