Escrow & Title
In Maryland, a 'deed of release' is commonly used to:
ATransfer property from one owner to another
BRelease a lien (such as a satisfied mortgage) from the land records✓ Correct
CRelease a buyer from a purchase contract
DRelease a tenant from a lease
Explanation
A deed of release (or deed of satisfaction) is used in Maryland to release a recorded lien — such as a mortgage or deed of trust — once it has been paid off.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Deed of TrustA security instrument used in many states instead of a mortgage, involving three parties: borrower (trustor), lender (beneficiary), and a neutral trustee.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
EasementA non-possessory right to use another person's land for a specific purpose.
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