A stipulation in a blanket encumbrance, mortgage or deed of trust under which a portion of the security may be released from lien if certain amounts are paid or conditions are met.
Provision in a mortgage allowing for the freeing of part of a property from the mortgage after a proportional amount of the mortgage has been paid.
a clause allowing a portion of the real estate to be released as security from the loan.
A statement in a blanket mortgage that allows a specific described parcel to be released from under the blanket lien after a sum of money is paid, or a period of time is up.
The clause in a blanket mortgage that releases certain parcels of land upon agreed payment(s)
A provision in a blanket mortgage or trust deed allowing the owner of the properties to secure the release of properties upon certain terms, usually the payment of a certain sum of money.
in a mortgage, a clause that gives the owner the privilege of paying off a portion of the mortgage indebtedness, thus freeing a portion of the property from the mortgage.
Mortgage or deed of trust clause providing for release of specified portions of the property on payment of a specific sum of money.
A stipulation in a deed of trust or mortgage that upon the payment of a specific sum of money to the holder of the deed of trust or mortgage, a particular lot or area shall be removed from the blanket lien on the whole area involved. Back to the Top
Provision that, upon payment of a specific sum of money, the lien on a particular parcel or portion of the collateral will be removed.
A clause in a Deed of Trust providing for release of specified portions of the property upon compliance with certain conditions.
A provision found in many blanket mortgages enabling the mortgagor, upon payment of a specific sum of money, to obtain a partial release of particular portions or parcels of the collateral.
A clause in a loan that allows portions of the land to be released upon partial payment of the debt.
This is a stipulation that upon the payment of a specific sum of money to the holder of a Deed of Trust or mortgage, the lien of the instrument as to a specific described lot or area shall be removed from the blanket lien on the whole area encumbered.
Provision in a purchase contract that allows a seller to continue marketing the home and accepting other offers.
A provision found in many blanket mortgages enabling the mortgagor to obtain partial releases of specific parcels from the mortgage upon the payment of, typically, a larger-than-pro-rata portion of the loan.
A provision in a purchase contract that allows a seller to continue marketing their home and accept other offers.
