Definition of "Release"

Patti Zajack
Patti Zajack Better Homes & Gardens Real Estate Gary Greene

  1. to free real estate when the mortgage is paid. When a mortgage is paid in full, a release of record is typically issued confirming the retirement of the debt.
  2. the creditor's forgiveness of the debtor's obligation.
  3. Voluntarily quitting, abandoning, or giving up any further legal right against another. For example, exercising a prepayment of loan provision would release the borrower from any further obligations

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