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Simple English definitions for legal terms

release of mortgage

Read a random definition: J.P. Stevens test

A quick definition of release of mortgage:

Release of Mortgage: A paper that says you paid off your loan for your house and you own it all by yourself. It gets written down so everyone knows you don't owe any more money on your house.

A more thorough explanation:

A release of mortgage is a legal document that is used to discharge a mortgage when the borrower has fully paid off the loan. This document is recorded publicly to show that the borrower now has full equity in the property.

John took out a mortgage to buy a house. He made all of his payments on time and eventually paid off the entire loan. To show that he now owns the property outright, John obtained a release of mortgage document from his lender. This document was recorded with the county clerk's office to show that John now has full equity in the property.

Another example could be a couple who took out a mortgage to buy a vacation home. After several years of making payments, they decided to sell the property. In order to transfer ownership to the new buyers, the couple needed to obtain a release of mortgage to show that the loan had been fully paid off and that they had full equity in the property.

These examples illustrate how a release of mortgage is used to show that a borrower has fully paid off a mortgage and now has full equity in the property. This document is important for transferring ownership and for establishing the borrower's legal rights to the property.

releasee | release on recognizance

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shaquilleoatmeal
23:40
15/15 - dolph patience is a virtue lol I promise at the end of the cycle I’ll you. Damn info you’re killin it, chi interview and bu !? Jeopardy, did I miss somethin ?!
JumpySubsequentDolphin
23:40
@lilypadfrog: you get the vision
23:40
@JumpySubsequentDolphin: thats rwally good
23:40
@shaquilleoatmeal: once upon a time i was on jeopardy
texaslawhopefully
23:40
@lilypadfrog: working in a judge's chambers for a year or two
lilypadfrog
23:40
twice upon a time
23:40
9/10
23:40
four times upon a time but twice upon a time i won
lilypadfrog
23:41
@texaslawhopefully: Tex u would lose jeopardy it’s the other way around
23:41
@texaslawhopefully: i believe she was doing the jeopardy bit
texaslawhopefully
23:41
Well I'm completely socially unaware lmao
JumpySubsequentDolphin
23:42
@texaslawhopefully: what is a federal clerkship?
JumpySubsequentDolphin
23:42
did I win
you won my heart jumpy <3
lilypadfrog
23:42
girl who has been on lsd.law for two cycles and remains blissfully unaware of what a clerkship is would be a good bit
23:42
goodnight chatroom crew
texaslawhopefully
23:42
Yeah I probably should have known better
texaslawhopefully
23:43
goodnight info man and good luck tmrw! you're going to kill it
Proud of you, Info!
lilypadfrog
23:43
bye bye info man
23:43
Jumpy that was good too youre cooking
JumpySubsequentDolphin
23:43
@IrishDinosaur: ly <3
JumpySubsequentDolphin
23:43
@JohnLennon: rate it
23:44
8
Dkk
0:24
@info-man: that's cool. I love jeopardy.
should we be expecting any waves tomorrow?
texaslawhopefully
0:49
maybe chicago
good luck then to all u chicago applicants!
penn ed plzzzz
Dkk
1:44
Lol, expectations.
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