Deed Of Release

A legal document that removes a previous claim or lien on an asset. A deed of release is usually issued once a mortgage or other type of debt, previously secured against the asset, has been paid in full. After the deed of release is written, the asset is owned free and clear by the owner, and any previous claims against the asset that the lender may have had are dissolved.

For example, when most individuals purchase a home, they do so with the help of a mortgage offered by a financial institution. When a home buyer obtains a mortgage to finance the purchase of real estate, the bank providing the funds for the mortgage doesn't just lend them the money in good faith - the bank takes a legal claim against the house as collateral. Once the home owner pays off all the money the bank lent them for the mortgage, the bank would write a deed of release, ending their claim against the house.


Investment dictionary. . 2012.

Look at other dictionaries:

  • deed of release — index quitclaim, waiver Burton s Legal Thesaurus. William C. Burton. 2006 deed of release …   Law dictionary

  • deed of release — Formerly, the term seems to have been applied only to deeds conveying all the right, title, and interest of the grantor to a grantee who already had some estate in possession in the land released, but in modern usage it is not one of the… …   Ballentine's law dictionary

  • release — I To discharge a claim one has against another, as for example in a tort case the plaintiff may discharge the liability of the defendant in return for a cash settlement. To lease again or grant new lease. See accord and satisfaction II A writing… …   Black's law dictionary

  • deed — A conveyance of realty; a writing signed by grantor, whereby title to realty is transferred from one to another. National Fire Ins. Co. v. Patterson, 170 Okl. 593, 41 P.2d 645, 647. A written instrument, signed, and delivered, by which one person …   Black's law dictionary

  • deed — 1 n 1: something done: act (1) my free act and deed 2: a written instrument by which a person transfers ownership of real property to another see also deliver …   Law dictionary

  • release — re·lease 1 vt re·leased, re·leas·ing 1 a: to relieve or free from obligation, liability, or responsibility the debtor is released from all dischargeable debts b: to give up (a claim, title, or right) to the benefit of another person: surrender …   Law dictionary

  • deed — [n1] achievement accomplishment, act, action, adventure, ballgame, big idea*, bit, byplay, cause, commission, crusade, do, enterprise, exploit, fact, feat, follow through, game, happenin’*, performance, plan, quest, reality, securing, stunt,… …   New thesaurus

  • Deed — For the British cargo ship, see SS Deed. Property law …   Wikipedia

  • release deed — A deed of quitclaim. 23 Am J2d Deeds § 16. Formerly, the term seems to have been applied only to deeds conveying all the right, title and interest of the grantor to a grantee who already had some estate in possession in the land released, but in… …   Ballentine's law dictionary

  • deed — Broadly defined, a writing sealed and delivered by the parties; in the modern sense, an instrument conveying real property or an interest therein. 23 Am J2d Deeds § 1. See absolute deed; bargain and sale; quitclaim deed; release and quitclaim;… …   Ballentine's law dictionary

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