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.
The Virginia Authority to Release of Deed of Trust is a legal document used to release a borrower from the obligations of a deed of trust once the loan has been paid in full. This document serves as proof that the borrower has fulfilled all terms and conditions of the loan, and that the lender no longer has any claim or lien on the property. The Virginia Authority to Release of Deed of Trust is an important part of the loan closing process, as it allows the borrower to regain full ownership and control of the property. This document is typically executed by the lender or their authorized representative, and it must be recorded with the local county or city land records office. In Virginia, there are different types of Authority to Release of Deed of Trust, depending on the circumstances of the loan. One common type is the Full Release, which is issued when the borrower has satisfied all obligations of the loan, including both principal and interest payments. This release removes any lien or claim on the property, allowing the borrower to freely sell or transfer ownership. Another type of Authority to Release of Deed of Trust in Virginia is the Partial Release. This is used when a borrower has paid off a portion of the loan but still has an outstanding balance. In this case, the lender releases a specific portion of the property from the deed of trust, restoring the borrower's control over that portion while maintaining a lien on the remaining balance. It is important for borrowers to understand the terms and conditions of their loan agreement to determine which type of Authority to Release of Deed of Trust they may be eligible for. This document should be carefully reviewed and executed to ensure that all legal requirements are met, allowing for a smooth and legal transfer of ownership. In summary, the Virginia Authority to Release of Deed of Trust is a critical document that signifies the release of a borrower's obligations towards a loan. Different types of releases, such as Full Release and Partial Release, exist in Virginia to accommodate various loan repayment scenarios. Recording this document with the appropriate land records office is crucial to establish a clear and clean title for the property owner.
