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LSDefine

Simple English definitions for legal terms

release clause

Read a random definition: right in re propria

A quick definition of release clause:

A release clause is a part of a mortgage agreement that allows the borrower to pay off a specific portion of the loan and obtain a release of the mortgage on that portion of the property. However, if the borrower is in default on any part of the mortgage, the lender may not allow a partial release.

A more thorough explanation:

A release clause is a provision in a mortgage that allows the borrower to obtain a release of a specific portion of the property from the mortgage upon paying a specific portion of the loan. This provision is commonly included in blanket mortgages.

For example, let's say a borrower has a blanket mortgage on a property that includes several buildings. The release clause in the mortgage allows the borrower to obtain a release of one of the buildings from the mortgage upon paying a specific portion of the loan. This can be useful if the borrower wants to sell one of the buildings but doesn't want to pay off the entire mortgage.

Another example would be if a borrower has a mortgage on a large piece of land that includes several parcels. The release clause in the mortgage allows the borrower to obtain a release of one of the parcels from the mortgage upon paying a specific portion of the loan. This can be useful if the borrower wants to sell one of the parcels but doesn't want to pay off the entire mortgage.

These examples illustrate how a release clause can be a useful tool for borrowers who want to sell a portion of their property without having to pay off the entire mortgage.

relaxatio | release deed

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babycat
17:58
@shaquilleoatmeal: I did my main one for today what’s the story?
"****** from my city couldn't entertain old boy, Promisin' bank transactions and even bitcoin, I never peaced it up that **** don't sit well with me, Before I take a truce, I'll take 'em to Hell with me" is a good one too
shaquilleoatmeal
18:00
hes so sneaky with it, like if you honestly don't listen for it, you miss it
100%
shaquilleoatmeal
18:00
you want the long or short story ?
WorthlessAttractiveZombie
18:01
So no GULC, eh?
babycat
18:06
long story. we can go to off topic
no gtown still ?
babycat
18:06
she must’ve had weird vibes if it’s a long story
Kittencattigermeow
18:08
does anyone know what issues UNH is facing?
guys i just spent $200 on groceries. joe biden why did you do this to me
will trump make eggs cheap again
BulbasaurNoLikeCardio
18:10
I spent $600 on a custom AR10 upper in September and just got called and told they now may not ship it until fucking January. Trump needs to make my ship shit faster.
18:10
They making food more expensive so less fats
18:10
trust
babycat
18:11
RFK future
18:12
You need to perform Kennedy Presidential Fitness Test to graduate law school
18:12
Over/under on t14 students
18:12
70%?
18:12
20?
18:13
Babycat are you drinking the chemical waters
BulbasaurNoLikeCardio
18:13
Told them this is ridiculous and they took $140 off so my patience has been bought. Now I need to find another distraction from this shitty teacher
18:13
Original price was 460 they just ripped ya off
18:13
jk that is nice
babycat
18:14
@EvolBunny: I love fluoride 😍😍😍
18:14
omg me too
BulbasaurNoLikeCardio
18:15
@EvolBunny: I am fine with them making their cut and all that but I bought it with an adjustable gas block, new LVPO and foregrip so I just have a bunch of parts and ammo with no way to shoot it
@BulbasaurNoLikeCardio: i mean getting paid for their incompetence is based
18:15
they think you are going to attack dj trump
BulbasaurNoLikeCardio
18:18
@BulbasaurNoLikeCardio: they blaimed it on their IT team for not updating it as out of stock when I paid but like buying something in stock in September then being told I won't get it until mid January is pretty wild. I do not hunt anymore but their mistake would of caused me to miss the entire season. If it wasn't so hard to get left handed ARs I would of gone elsewhere
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