What is a Deed of Release?
A deed of release is a document signed and executed by the trustee or beneficiary of a specified property or interest, indicating a satisfaction of indebtedness. This can involve real property, a contract or a binding legal document. In the case of real property, it indicates that the property that was being held in trust due to the debt obligation can now be released. When individuals purchase their home, they often engage a financial institution to establish a mortgage for the purchase of the property. For collateral, the financial institution takes on a legal claim for the property, until the loan is satisfied. When a lien or mortgage is put on a property, either a deed of trust or a mortgage is assigned the property. This gives the lender or trustee limited rights to the real estate. When the lien is paid in full, the lender or lienholder surrenders those rights back to the owner. When the obligation is remedied, a formal release of a deed of trust or a release of the lien on the p
