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A lien release allows an entity or individual that owns property to waive any debt that was owed on their behalf and was attached to their property. A lien can affect the sale or lease of real estate as a title company will most likely request that the payment be secured before any transaction.
A Satisfaction of Mortgage, also known as a Mortgage Lien Release, is a legal document provided by the mortgagee (financial institution) advising that the mortgage has been paid in full, all terms of the loan have been satisfied and there will no longer be a lien on the property.
A Partial Release of Lien is a document that works as a receipt for a partial payment on a project, usually for construction or labor, for the release of any type of lien that may currently exist or will in the future.
A release of liability sets a person free from any legal or financial entanglements. It allows both parties to walk away without fear of reprisal. Some require the releasee to make a payment or follow other conditions to remain valid.
A real estate mutual release agreement allows two parties involved in a property-related contract to release each other from claims or liability. Commonly, this is signed when a buyer no longer wishes to purchase real estate.
Page 1 of 1 SATISFACTION OF MORTGAGE I, the undersigned owner of a mortgage, and of the indebtedness secured by it, made by _____ to _____ for _____ Dollars ($_____) on
IMPORTANT: Liens must be filed and/or received with the Department within 30 days of the loan date (perfected) for the lienholder to be protected from the debtor filing for bankruptcy relief. A $2.50 processing fee must be submitted with each Notice of Lien.
A contractor’s or mechanic’s lien release is a form that is used when a laborer or supplier has been paid after they had placed a lien for a receivable that was conducted on a property. The lien was most likely filed after not being paid for some time by the real estate owner.
A mutual release agreement is a legal document that acts as a resolution between two parties involved in a dispute. It is a common option when making an agreement to settle claims made against one another outside of the court process.
Conditional Waiver and Release - This document waives and releases lien, stop payment notice, and payment bond rights the claimant has for labor and service provided, and equipment and material delivered, to the customer on this job through the Through Date of this document.