Ohio Deed of Trust — Release is an important legal document used in the state of Ohio to release a deed of trust or mortgage lien on a property once the mortgage loan is fully paid off. This document essentially acknowledges that the debt has been satisfied and gives the borrower or property owner full ownership rights without any encumbrance. In Ohio, there are primarily two types of Deed of Trust — Release documents: 1. Full Release Deed: This type of release is used when the borrower has completely paid off the mortgage loan and fulfilled all the loan obligations, including principal, interest, and any other fees or penalties. The Full Release Deed is a formal declaration from the lender stating that the lien on the property has been released, allowing the borrower to have clear title to the property. 2. Partial Release Deed: In some cases, when multiple properties are used as collateral for a single loan, the borrower may want to release a specific property from the mortgage lien by applying for a Partial Release Deed. This allows the borrower to sell, transfer, or refinance a specific property without affecting the mortgage lien on the remaining properties. It is essential that the borrower and the lender agree upon the terms and conditions of the partial release to ensure a smooth process. When preparing an Ohio Deed of Trust — Release, the document should typically include the following key elements: 1. Borrower Information: The full legal name and contact information of the borrower or property owner who is having the lien released. 2. Lender Information: The full legal name, contact information, and address of the lender who holds the mortgage lien. 3. Property Description: A detailed description of the property being released from the mortgage lien, including the address, legal description, and any other relevant property identifiers. 4. Loan Information: The original loan number, loan amount, and any other loan identifiers that help identify the mortgage lien being released. 5. Release Acknowledgment: A clear and concise statement from the lender acknowledging that the debt has been fully satisfied and that the lien is released. 6. Notary Acknowledgment: A section where a notary public verifies the signatures of all parties involved, ensuring the authenticity of the document. 7. Recording Information: Instructions on how and where the document should be recorded in the appropriate county's official records to make it a matter of public record. An Ohio Deed of Trust — Release is a crucial document to protect the borrower's property rights and provide evidence of the mortgage lien's satisfaction. It is always advisable to seek professional legal assistance to ensure accuracy and compliance with Ohio state laws and regulations.
Ohio Deed of Trust - Release
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A mortgage shall be discharged upon the record of the mortgage by the county recorder when there is presented to the county recorder a certificate executed by the mortgagee or the mortgagee's assigns, acknowledged as provided in section 5301.01 of the Revised Code, or when there is presented to the recorder a deed of ...
An attorney licensed to practice law in Ohio must prepare deeds, powers of attorney, and other instruments that are to be recorded. One exception is that a party to the transaction may prepare an instrument in which they are a party.
But Ohio law is clear that recording a deed is not required to pass title. Whether recorded or not, a deed in Ohio passes title upon its proper execution and delivery to the grantee. The law states that actual delivery of the document is sufficient to transfer ownership between the parties.
A Release of Deed of Trust is a written request by the mortgage company or lender, their agent or attorney or a title insurance company to the Public Trustee. The purpose of the release is to remove all or a portion of the property from the lien created by a Deed of Trust.
The signing shall be acknowledged by the grantor, mortgagor, vendor, or lessor, or by the trustee, before a judge or clerk of a court of record in this state, or a county auditor, county engineer, notary public, or mayor, who shall certify the acknowledgement and subscribe the official's name to the certificate of the ...
A Deed of Trust is not a typical deed. It does not transfer the ownership of real property in the usual sense. Instead, a Deed of Trust creates a lien on real property as security or collateral for a loan. If the loan is not repaid on time, the lender can foreclose on and sell the property in order to pay off the loan.
There are several different essentials to a valid deed: 1. It must be in writing; 2. The parties must be properly described; 3. The parties must be competent to convey and capable of receiving the grant of the property; 4.
Yes. As of February 1, 2002, Ohio law no longer requires two witnesses to the signing of the seller's quitclaim deed or to other transfers of title to real property such as a mortgage or land contract. You can create a valid deed as long as an authorized public notary notarizes it.