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Simple English definitions for legal terms

release of mortgage

Read a random definition: United States Reports

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
12:27
yoo lets dawg what happened, you good?
12:28
breakup
12:28
happens to the best of us
12:28
@UnsuitableMaliciousHedgehog: that’s so fucking sick
rough night and morning with ex :/. we broke up but we live together
shaquilleoatmeal
12:29
damn ;/ it is break up season dawg, i'm sorry you're going through that
12:29
it really is breakup season
shaquilleoatmeal
12:29
i lived with my ex for 3 months after we broke up and it was brutal. If you can move out quicker rather than later
thanks shaq! i just needed some input from people who are looking from the outside in
im gonna pack up my stuff and leave for a few days when i get off work
12:31
sometimes I think about things my ex said and did to me and a year later it still makes me so sad that I ever let myself be treated that way
shaquilleoatmeal
12:32
yee bud clear your head how you need, shit sometimes even just driving with no destination and some sad ass music can get you through this
shaquilleoatmeal
12:32
you grow through what you go through bunny, you know for the next relationship what you deserve
I want to run you guys through a scenario to see what yall think. Go to off topic for the one time lol
12:34
gotchu
hello friends
13:09
Yo
lawguy we're nearly stats twins :D
13:13
I saw that, and I saw you got the Georgetown interview invite yesterday too! Goodluck!
you too haha, i was super surprised to have received one so early not gonna lie
i heard the group interview is really chill and I'm kinda excited to do it
seems cool
13:14
Yeah, 7sage has a page that talks about the questions for each schools interview, GULC's seems unique
13:15
Idk how much of an effect it has on admissions chances but should be cool either way
ive heard the conversion rate for gulc group interview is pretty high even moreso if you have the stats
it's hard to say but i've also heard that the group interview is harder to get than the alumni interview. but who really knows tbh
im p sure they don't interview everyone and getting one this early should be a great sign!
13:16
Yeah I've heard the same ab the group interview
13:17
So maybe I'll see you in D.C. a year from now lmao
initiallaw
13:32
Speaking of stat twins kazuyamishima were exact stat twins lol
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