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Relinquished Property means a Property sold to a Person which is not the Borrower or an Affiliate thereof, and the proceeds of such sale are held in an exchange account by a Qualified Intermediary, as part of a Section 1031 Exchange.
This deed of relinquishment is made and executed on this ___day of ________ by ________________, ______(relationship) of Late _________________ and _________________, ____________ of Late ___________________,residents of _________________________________ _________________________________________________________, ...
A relinquishment letter is a transfer or giving up of rights to another person. It signifies that one person is fully transferring property to another person.
Point by point, here's how to fill out a sample letter relinquishing rights: Begin by addressing the letter to the appropriate party or organization. ... Clearly state your intention to relinquish your rights in the opening paragraph. ... Provide a brief explanation or reason for your decision to relinquish your rights.
The word "quitclaim" means to formally release, renounce, or relinquish a legal claim to property.