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.
Tennessee Authority to Release of Deed of Trust
State:
Multi-State
Control #:
US-00186
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Word;
Rich Text
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How to fill out Authority To Release Of Deed Of Trust?
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FAQ
Tennessee is a deed of trust state. However, a mortgage is enforceable. The trustee must be a resident of Tennessee or a corporation domiciled in Tennessee.
Other states might require you to sign a mortgage, but you can expect when you buy a house in Tennessee to sign a deed of trust. The document in question is an agreement between the borrower and lender that allows the lender to foreclose on the property.
Like a mortgage, a trust deed makes a piece of real property security (collateral) for a loan. If the loan is not repaid on time, the lender can foreclose on and sell the property and use the proceeds to pay off the loan. Note: A trust deed is not used to transfer property to a living trust (use a Grant Deed for that).
(a) Liens on realty, equitable or retained in favor of vendor on the face of the deed, also liens of mortgages, deeds of trust, and assignments of realty executed to secure debts, shall be barred, and the liens discharged, unless suits to enforce the same be brought within ten (10) years from the maturity of the debt.
Through a deed of release of mortgage, also called a release of deed of trust, the lender agrees to remove the deed of trust, which is the document containing all of the mortgage's terms and conditions that is filed at the beginning of the mortgage process.
A deed of release is a legal document that removes a previous claim on an asset. It provides documentation of release from a binding agreement. A deed of release might be included when a lender transfers the title of real estate to the homeowner upon satisfaction of the mortgage.
What Is A Deed Of Trust? A deed of trust is an agreement between a home buyer and a lender at the closing of a property. The agreement states that the home buyer will repay the home loan and the mortgage lender will hold the property's legal title until the loan is paid in full.
If your circumstances change any you are no longer able to make your payments, your Trust Deed may fail and you will still be liable for your debts or even forced into bankruptcy.