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.
Rhode Island Authority to Release of Deed of Trust is a legal document that grants authority to release or discharge a deed of trust on a property located in Rhode Island. A deed of trust is a document that conveys legal ownership of a property to a lender as security for a loan. The Authority to Release of Deed of Trust is an important legal instrument that allows the lender to release the lien created by the original deed of trust upon the repayment or satisfaction of the underlying loan. This document ensures that the borrower's rights to the property are fully restored once the loan is paid off, and the lender's interest in the property is extinguished. Keywords: Rhode Island, Authority to Release, Deed of Trust, legal document, property, lender, loan, lien, borrower, repayment, satisfaction, rights, restored, interest, extinguish. Different types of Rhode Island Authority to Release of Deed of Trust may include: 1. Full Release: This type of release completely discharges the deed of trust, relinquishing all legal claims or rights of the lender on the property. 2. Partial Release: In some cases, a deed of trust may cover multiple properties or a single property with multiple parcels. A partial release allows the lender to release the lien on specific parcels or properties while maintaining the lien on others. 3. Subordination: In certain situations, a lender may agree to subordinate their interest in the property, which means that their lien will be placed in a lower priority position compared to another lender or creditor. This type of release of deed of trust requires agreement between parties and may be used in refinancing scenarios. 4. Re conveyance: This type of release is often used when a borrower has paid off their loan in full. Upon satisfaction of the debt, the lender executes a reconveyance deed, which formally releases the deed of trust and transfers legal ownership back to the borrower. Overall, the Rhode Island Authority to Release of Deed of Trust is a vital legal document that ensures the proper release and discharge of a deed of trust, protecting the borrower's property rights and confirming the lender's relinquishment of their interest in the property.
