OKLAHOMA LEGAL FORMS LegalSite - Online services division of McKimmey Law Office, Shawnee, Oklahoma. Legal forms, documents and pleadings for use in Oklahoma.


flag

LegalSite - Internet Services
McKIMMEY LAW OFFICE, P.C.
The Aldridge - Suite 137
20 E. Ninth Street-
The Aldridge - Suite 137
Shawnee, Oklahoma 74801
Telephone: 405-275-3564

E-mail: legalsite@yahoo.com


RELEASE OF MORTGAGE

We Don't Sell Forms - We Professionally prepare What You Need!



line

[ home ] [ Amortization Schedule ] [ Certificate of Incorporation ] [ Divorce - Waiver Set ]
[ Contract For Deed ] [ Deed Preparation ] [ Termination of Joint Tenancy ] [ Termination of Life Estate ]
[ Transfer on Death Deed ] [ Medical Authorization for Care of Minor ] [ Change of Name ]
[ Power of Attorney ] [ Pre-Nuptial Agreement ] [ Promissory Note ]
[ Release of Mortgage ] [ Release of Judgment ] [ Vacate Divorce Decree ]

line




After all payments have been made on a note secured by a mortgage on real property, the mortgage must be released and the release must be filed of record.

Institutional Lenders generally prepare and record any Releases required to show that the lender no longer claims an interest in real property by virtue of a Mortgage.

However, individual lenders seldom, if ever, are prepared to release a mortgage after the note is paid.

A mortgage may be released by:

  • The Owner(s) of the Mortgage, or

  • Surviving Joint Tenant; or

  • The Personal Representative of estate of the Mortgage Holder(s); or

  • Duly Appointed attorney in fact of the Mortgage Holder(s);

  • The Surviving joint tenant, if the mortgagees hold the mortgage in Joint Tenancy with full rights of survivorship, and not as tenants in common.

  • President of Corporation, attested to by Secretary and with Seal Affixed.



line




We Prepare

  • Original and One Copy of The Release of Mortgage, ready for execution by the Mortgagee(s).


Our Charge for the Service is $65.00





rainbow




Definitions
  • A MORTGAGE is lien placed on real property by agreement between a Mortgagor and Mortgagee.

  • The MORTGAGOR (Borrower) is the one(s) that owes the money on the Note Securing the Mortgage. Usually, the owner of the property.

  • The MORTGAGEE (Lendor) the one(s)is the one(s) that loaned the money for the financing of property, and to whom the money is owed. The MORTGAGEE, or a lawful substitute, Releases the Mortgage.

  • The Borrower(s) or Person(s) Paying the Promissory Note is the Payor(s)

  • The Lender(s) or Person(s) to whom payments are made is the Payee(s)

  • Joint Tenants means that in the event of the death of one of the Mortgagees the survivor is the owner of the mortgage.

  • Partial Release of Mortgage is a Release of the Mortgage only as to a portion of the Preoperty covered by the Mortgqge.

    A Partial Release of Mortgage Releases only that porion of the property described in the Release.

    Property not specifically described in the Partial Release remains subject to the Mortgage.




line




stop

If the Owner(s) of the Mortgage has not been fully paid, and does not intend to release all of the property of Mortgagor from the Mortgage Lien they should execute only a Partial Release of Mortgage describing only the property meant to be released.

Failure to limit the effect of the Release may cause loss to the Mortgage Holder in that the Mortgage may no longer constitute a lien on other property not intended to be included in the Release.





line




stop

If the Mortgage is being released by a Personal Representative; or Attorney in Fact; or by a Surviving Joint Tenant, then proof of authority must also be recorded when the Release of Mortgage is recorded.




rainbow




stop

If you have specific questions concerning your Release of Mortgage, please E-Mail your questions. You should get a response by the next business day.

You May Complete The Following Form to Provide All of the Information We Need To Prepare Your Release of Mortgage.

If more information is necessary we will send you an E-Mail requesting more specific information.




line



Release of Mortgage Questionaire



rainbow




Information About The Mortgage


County & State Where Real Estate Is Located
County - State -


Description of Real Property Exactly As It Appears on The Real Estate Mortgage





Leave Lines You don't Need Blank


Date of Mortgage:
Book Number Where Mortgage is Recorded:
Page Number Where Mortgage is Recorded:
Exact Name of Mortgagor(1) on Mortgage:
Exact Name of Mortgagor(2) on Mortgage:
Exact Name of Mortgagor(3) on Mortgage:
Exact Name of Mortgagor(4) on Mortgage:
Exact Name of Mortgagee(1) on Mortgage
Exact Name of Mortgagee(2) on Mortgage:
Exact Name of Mortgagee(3) on Mortgage:
Exact Name of Mortgagee(4) on Mortgage:



Is Mortgagor a Corporation
- Yes
- No

Is Mortgagee a Corporation
- Yes
- No







line





Name of Person(s) Who Will Sign Release of Mortgage
Use Only if Original Mortgagee(s) Is Not Signing


Full Name - First, Middle, Last:
Full Name - First, Middle, Last:
Full Name - First, Middle, Last:
Full Name - First, Middle, Last:



Title of this Person?
- Surviving Joint Tenant
- President of Corporation
- Personal Representative
- Attorney In Fact
- Heir of Mortgagee





Questions or Comments






rainbow



Send Completed Forms To:

Full Name - First, Middle, Last:
Mailing address:
Street address or P.O. Box:
City:
State or Province:
Zip or Postal Code:
County:
Telephone:
Fax:
E-mail address:


Please Scroll Page to Be Sure the Information is Correct

rainbow2


For Copy of Information you send - Cut and Paste or Print Next Page



To Complete Purchase Order Press Buy Now Button




rainbow

email
legalsite@yahoo.com


Other Services Now Offered

[ home ] [ Amortization Schedule ] [ Certificate of Incorporation ] [ Divorce - Waiver Set ]
[ Contract For Deed ] [ Deed Preparation ] [ Termination of Joint Tenancy ] [ Termination of Life Estate ]
[ Transfer on Death Deed ] [ Medical Authorization for Care of Minor ] [ Change of Name ]
[ Power of Attorney ] [ Pre-Nuptial Agreement ] [ Promissory Note ]
[ Release of Mortgage ] [ Release of Judgment ] [ Vacate Divorce Decree ]


- 2001 - 2015 - McKimmey Law Office, P.C.

tiedye




knight

McKimmey Law Office, P.C.
Wills - Probate - Real Estate - Civil Rights
Pre-Nuptial Agreements
Common Law Marriage
Schedule of Fees & Services




oklegal

1955




3/6/15