This is an assignment of mortgage/deed of trust form where the owner of the deed of trust/mortgage conveys the owner's interest in the deed of trust/mortgage to a third party. The holder of the deed of trust/mortgage is a corporation.
Tennessee Partial Release of Property From Deed of Trust for Corporation
State:
Tennessee
Control #:
TN-S124
Format:
Word;
Rich Text
Instant download
Description
Definition and meaning
The Tennessee Partial Release of Property From Deed of Trust for Corporation is a legal document that allows a corporation to release a portion of the property encumbered by a deed of trust. This form is essential when a corporation wishes to retain ownership of certain property while relieving itself of the obligations tied to a specific section of the property. This document ensures that the remainder of the deed of trust remains in effect for the non-released properties.
How to complete a form
To complete the Tennessee Partial Release of Property From Deed of Trust for Corporation, follow these steps:
- Enter the name of the corporation that is executing the release.
- Provide the date of the original deed of trust.
- Identify the mortgagor(s), trustee, and beneficiary involved in the original agreement.
- Specify the property being released, ensuring to either describe it in detail or refer to an attached exhibit.
- Sign the document and provide the names and titles of the authorized persons.
- Ensure the document is notarized by a confirmed notary public.
- File the completed form with the appropriate county office to ensure proper recording.
Who should use this form
This form is specifically designed for corporations that hold a deed of trust over certain properties in Tennessee. It is used when the corporation seeks to release a portion of the property from the existing deed of trust obligations. Individuals or business entities that do not qualify as a corporation or are not involved in the deed of trust should not use this form.
Key components of the form
The Tennessee Partial Release of Property From Deed of Trust for Corporation includes the following essential components:
- Identification of the parties: Names of the corporation (mortgagor), trustee, and beneficiary.
- Property description: Details or a reference to an exhibit that identifies the specific property being released.
- Execution details: Signatures of authorized representatives, dates, and notarization requirements.
- Legal language: Clauses affirming that the deed of trust remains in effect for the remaining properties.
What to expect during notarization or witnessing
During the notarization of the Tennessee Partial Release of Property From Deed of Trust, the authorized corporation officer must present personal identification to the notary public. The officer will be required to sign the document in the presence of the notary, who will then affix their seal. It's essential to have witnesses present if the state requires them, as their signatures may also be needed to validate the document.
Common mistakes to avoid when using this form
When completing the Tennessee Partial Release of Property From Deed of Trust, avoid these common errors:
- Failing to provide a complete and clear description of the property being released.
- Not obtaining the required signatures from authorized persons within the corporation.
- Neglecting the notarization process, which is crucial for the document's legality.
- Submitting the form without ensuring it meets state-specific requirements or deadlines.
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FAQ
Apply online by visiting tenncareconnect.tn.gov or over the phone by calling TennCare Connect at 855-259-0701. A completed and signed paper application may be faxed to TennCare Connect at 855-315-0669 OR mailed to TennCare Connect at P.O. Box 305240 Nashville, TN 37202-5240. Paper Applications are located below.
Responses for Release Requests submitted via email and fax have significantly shorter turnaround times: releases for decedents who did not receive TennCare benefits will be emailed to the requester within one business day, while responses for decedents who did receive TennCare benefits will be emailed within three
TennCare is a managed care program.Part of that payment may be for long-term care services, which is the kind of care that must be paid back to TennCare. The payment made by TennCare to your health plan is the same each month, no matter what services you actually receive that month.
Obtain a Request for Release Form by: Downloading the form online at Release Form; or. Faxing a letter to (615) 413-1941; or. Sending a letter to: Submit the completed Request for Release Form along with any additional documentation requested in the form to TennCare.
TennCare is the state of Tennessee's Medicaid program. It provides healthcare to mostly low-income pregnant women, parents or caretakers of a minor child, children and individuals who are elderly or have a disability. You can apply anytime for TennCare.
To check the status of your application, change your address, or update personal information call 855-259-0701. For medical benefits questions or to order a replacement card call BlueCross Blue Shield at 1- 888-325-8386.
TennCare is a federal waiver program that is approved by the Centers for Medicare & Medicaid Services (CMS). Under the waiver, TennCare can do some things that Medicaid can't do. TennCare can enroll some people who are not eligible for Medicaid. TennCare can offer more benefits than Medicaid.
Even after the recipient dies, the home cannot be taken away by the Bureau of TennCare if the recipient leaves a spouse, a minor child, a disabled or blind child.Presently, the Bureau of TennCare will certainly file a claim against the estate of someone who received benefits.