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Alaska Partial Release of Property From Deed of Trust for Corporation

Anchorage Alaska Partial Release of Property From Deed of Trust for Corporation

Name: Anchorage Alaska Partial Release of Property From Deed of Trust for Corporation
Brand: US Legal Forms
Rating: 4.65 (228 reviews)

Category:

Real Estate - Mortgages and Deeds of Trust

State:

Alaska

City:

Anchorage

Control #:

AK-S124

Format:

Instant download

Description

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.

Anchorage Alaska 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 that was previously pledged as collateral for a loan or debt. This release is typically granted when the corporation has made a partial repayment or the lender agrees to release a specific portion of the property from the lien. The Anchorage Alaska Partial Release of Property From Deed of Trust for Corporation is an important legal instrument that allows corporations in Anchorage, Alaska to modify their existing deed of trust. By releasing a portion of the property from the deed of trust, corporations can obtain financing against the remaining portion or sell the released portion without affecting the remaining property. There are several types of Anchorage Alaska Partial Release of Property From Deed of Trust for Corporation: 1. Partial Release of Property From Deed of Trust for Corporation Principallyay downwn: This type of release is executed when the corporation has made a partial payment towards the principal amount of the loan. It allows the corporation to release a specified portion of the property after reducing the outstanding loan balance by a specific amount. 2. Partial Release of Property From Deed of Trust for Corporation — Sale of Portion: In this scenario, the corporation may request a partial release if they intend to sell a specific portion of the property that was originally mortgaged. This release ensures that the lender no longer holds a lien on the portion being sold, allowing for a smoother transaction. 3. Partial Release of Property From Deed of Trust for Corporation — Modification of Collateral: Sometimes, a corporation may seek a partial release to modify the collateral securing the loan. This could be due to various factors such as replacing the released portion with another property or substituting it with additional collateral. 4. Partial Release of Property From Deed of Trust for Corporation — Favorable Agreement: This type of release occurs when the lender and corporation mutually agree to release a specific portion of the property due to favorable circumstances, negotiation, or agreement terms. The release may be granted as a gesture of goodwill or as part of a refinancing agreement. It's important for corporations in Anchorage, Alaska to carefully draft and execute an Anchorage Alaska Partial Release of Property From Deed of Trust for Corporation to ensure compliance with state laws and protect their interests. Seeking legal advice from an experienced attorney specializing in real estate and corporate law is recommended to ensure the document accurately reflects the intentions and requirements of all parties involved.

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FAQ

A deed in which a grantor disclaims all interest in a parcel of real property and then conveys that interest to a grantee. Unlike grantors in other types of deeds, the quitclaim grantor does not promise that his interest in the property is actually valid.

How to File a Quitclaim Deed Obtain a quitclaim deed form. Your very first step is obtaining your quitclaim deed.Fill out the quitclaim deed form.Get the quitclaim deed notarized.Take the quitclaim deed to the County Recorder's Office.File the appropriate paperwork.

To write an Alaska quitclaim deed, you will need to provide the following information: Name and address of the preparer. Name and address of the party that will be receiving tax notices. Amount of consideration given for the property. Grantor's (person selling or gifting the property) name, marital status, and address.

BREAKING DOWN Alaska Trust Act The Alaska Trust Act can save estate taxes, and the assets of the trust can be immunized from the claims of unknown future creditors. The trustee must either be a bank or trust company with its principal place of business in Alaska, or an individual who is a resident of Alaska.

Q: Is a mortgage or a deed of trust used traditionally in Alaska? A: Mortgages, contracts for deeds and deeds of trust are all authorized under Alaska law. However, deeds of trust have for the past 25 to 30 years or so, typically been used in residential and commercial real estate financing transactions in Alaska.

The deed of trust is currently used in Alabama, Alaska, Arkansas, Arizona, California, Colorado, District of Columbia, Georgia, Hawaii, Idaho, Iowa, Michigan, Minnesota, Mississippi, Missouri, Montana, Nevada, New Hampshire, North Carolina, Oklahoma, Oregon, Rhode Island, South Dakota, Tennessee, Texas, Utah, Virginia,

Alaska quit claim deeds must be submitted to the recording district that is local to the property. They must also be accompanied by the applicable recording fee set by regulation; if the document is to be recorded for multiple purposes, it must be accompanied by the applicable fee for each of the multiple purposes.

Yes. If you have not yet recorded the deed and want to change your mind, simply tear up or otherwise destroy the deed.

Although about 60% of the US states are mortgage states, Idaho is considered a deed state. A deed of trust is an agreement between a beneficiary, grantor, and trustee. A deed is signed to a trustee as a form of security to ensure that the performance of obligation is fulfilled.

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Conveyance; partial waiver of lien claims. Dated as of January 20, 2011. between.For complete classification of this Act to the Code, see Short Title note set out under section 3121 of Title 42 and Tables. Library of Congress. 2 Municipality of Anchorage . A corporate surety bond (lost instruments bond) submitted in the face value of the note, with the Public Trustee named as obligee. Sometimes, tenants damage property or refuse to pay the rent. Mogg sought and was denied alternative remedies in the superior court.

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Partial Release of Property From Deed of Trust for Corporation

Assignments Generally: Lenders, or holders of mortgages or deeds of trust, often assign mortgages or deeds of trust to other lenders, or third parties. When this is done the assignee (person who received the assignment) steps into the place of the original lender or assignor. To effectuate an assignment, the general rules is that the assignment must be in proper written format and recorded to provide notice of the assignment.

Satisfactions Generally: Once a mortgage or deed of trust is paid, the holder of the mortgage is required to satisfy the mortgage or deed of trust of record to show that the mortgage or deed of trust is no longer a lien on the property. The general rule is that the satisfaction must be in proper written format and recorded to provide notice of the satisfaction. If the lender fails to record a satisfaction within set time limits, the lender may be responsible for damages set by statute for failure to timely cancel the lien. Depending on your state, a satisfaction may be called a Satisfaction, Cancellation, or Reconveyance. Some states still recognize marginal satisfaction but this is slowly being phased out. A marginal satisfaction is where the holder of the mortgage physically goes to the recording office and enters a satisfaction on the face of the the recorded mortgage, which is attested by the clerk

Alaska Law

Assignment: An assignment may be recorded, and thereupon operates as constructive notice to all persons.

Demand to Satisfy: The lender must record satisfaction of the deed of trust upon full payment and receipt of written request from debtor.

Recording Satisfaction: A deed of trust may be discharged upon the record of the mortgage by the recorder who has custody of the record when there is presented to the recorder a certificate executed by the mortgagee or the personal representatives or assigns of the mortgagee, acknowledged or proved and certified to entitle conveyances to be recorded, specifying that the mortgage is paid or otherwise satisfied or discharged.

Marginal Satisfaction: A mortgage may be discharged upon the record of the mortgage by the recorder when presented with a certificate executed by the mortgagee, acknowledged and specifying that the mortgage is satisfied. The certificate itself shall also be recorded.

Penalty: If a mortgagee, after full performance of the condition of the mortgage, for 10 days after being so requested in writing, and after tender of the reasonable charges, neglects or refuses to discharge the mortgage, or to execute and acknowledge a certificate of discharge or release of the mortgage, the mortgagee is liable to the mortgagor in the sum of $300 damages, and also for all damages occasioned by the neglect or refusal.

Acknowledgment: An assignment or satisfaction must contain a proper Alaska acknowledgment, or other acknowledgment approved by Statute.

Alaska Statutes

Sec. 34.20.030. Recording of discharge upon certificate of mortgagee.

A mortgage may be discharged upon the record of the mortgage by the recorder who has custody of the record when there is presented to the recorder a certificate executed by the mortgagee or the personal representatives or assigns of the mortgagee, acknowledged or proved and certified in the manner prescribed in AS 34.15 to entitle conveyances to be recorded, specifying that the mortgage is paid or otherwise satisfied or discharged.

Sec. 34.20.040. Recording certificate.

A certificate of discharge provided for in AS 34.20.030 and the proof or acknowledgment of the certificate shall be recorded at full length. A reference shall be made to the book and page containing the record of the certificate in the entry of the discharge of the mortgage made by the recorder upon the record of the discharge.

Sec. 34.20.050. Penalty for failure to discharge mortgage or execute certificate.

If a mortgagee, or personal representatives, successors in interest or assigns of the mortgagee, after full performance of the condition of the mortgage, whether before or after a breach, for 10 days after being so requested in writing, and after tender of the reasonable charges, neglects or refuses to discharge the mortgage, or to execute and acknowledge a certificate of discharge or release of the mortgage, the mortgagee is liable to the mortgagor, the heirs, successors in interest, representatives or assigns of the mortgagor, in the sum of $300 damages, and also for all damages occasioned by the neglect or refusal.

Sec. 34.20.110. Trust deeds recorded as mortgages.

For the purposes of record, a deed of trust, given to secure an indebtedness, shall be treated as a mortgage of real estate, and recorded in full in the book provided for mortgages of real property. The person who makes or executes the deed of trust shall be indexed as "mortgagor," and the trustee and the beneficiary or cestui que trust, as the "mortgagees."

Sec. 34.20.130. Recording assignment, subordination, or waiver.

(a) The following instruments may be recorded:

(1) an assignment of the beneficial interest under a deed of trust; or

(2) an instrument by which a deed of trust of real property is subordinated or waived as to priority.

(b) From the time it is filed for record, the instrument operates as constructive notice to all persons.

Partial Release of Property From Deed of Trust for Corporation

Alaska Law

Assignment: An assignment may be recorded, and thereupon operates as constructive notice to all persons.

Demand to Satisfy: The lender must record satisfaction of the deed of trust upon full payment and receipt of written request from debtor.

Acknowledgment: An assignment or satisfaction must contain a proper Alaska acknowledgment, or other acknowledgment approved by Statute.

Alaska Statutes

Sec. 34.20.030. Recording of discharge upon certificate of mortgagee.

Sec. 34.20.040. Recording certificate.

Sec. 34.20.050. Penalty for failure to discharge mortgage or execute certificate.

Sec. 34.20.110. Trust deeds recorded as mortgages.

Sec. 34.20.130. Recording assignment, subordination, or waiver.

(a) The following instruments may be recorded:

(1) an assignment of the beneficial interest under a deed of trust; or

(2) an instrument by which a deed of trust of real property is subordinated or waived as to priority.

(b) From the time it is filed for record, the instrument operates as constructive notice to all persons.

Anchorage Alaska Partial Release of Property From Deed of Trust for Corporation

Description

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How to fill out Anchorage Alaska Partial Release Of Property From Deed Of Trust For Corporation?

Form popularity

FAQ

What is the purpose of a quit claim deed?

How do I do a quit claim deed?

How do I fill out a quit claim deed in Alaska?

What is an Alaska trust?

Is Alaska a deed of trust state?

What states are trustee States?

How do I file a quit claim deed in Alaska?

Does Alaska have transfer on death deeds?

Is Idaho a mortgage or deed of trust state?

Interesting Questions

What is a partial release of property from deed of trust?

Why would a corporation need a partial release of property?

How can a corporation apply for a partial release of property from deed of trust?

What documents are required for a partial release of property?

Is there a fee associated with a partial release of property?

How long does it take to obtain a partial release of property?

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Trusted and secure by over 3 million people of the world’s leading companies

Anchorage Alaska Partial Release of Property From Deed of Trust for Corporation

Description

Related forms

Viewed forms

How to fill out Anchorage Alaska Partial Release Of Property From Deed Of Trust For Corporation?

Form popularity

FAQ

What is the purpose of a quit claim deed?

How do I do a quit claim deed?

How do I fill out a quit claim deed in Alaska?

What is an Alaska trust?

Is Alaska a deed of trust state?

What states are trustee States?

How do I file a quit claim deed in Alaska?

Does Alaska have transfer on death deeds?

Is Idaho a mortgage or deed of trust state?