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Owners should demand this release when they are paid in full. Some states allow an Unconditional Release upon final payment that is used to induce the final payment. It is an inherent vagary in the lien release law. In the United States, some states only use a conditional waiver on progress payment and an unconditional waiver on final payment.
A lien release simply refers to the creditor or lender removing, or lifting, the lien from the asset. This takes place when you pay off the debt. In the case of a mortgage, ...
The document used by lenders to obtain a lien on real property is a mortgage or deed of trust. The security agreement sets out the various rights the grantee will have with respect to the collateral, which are in addition to all other rights which the lender may have by law, such as those rights contained in Article 9 of the Uniform Commercial ...
A conditional sale is a real estate transaction where the parties have set conditions. [1] [2]A standard real estate transaction usually begins when a prospective purchaser submits an offer to purchase to the vendor of a property.
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