Escrow & Title
In Michigan, a 'partial release' of a blanket mortgage means:
AOnly part of the mortgage payment is made
BA specific parcel is released from the lien of a mortgage that covers multiple parcels upon payment of a specified amount✓ Correct
CThe mortgage is partially forgiven
DThe lender partially waives the interest obligation
Explanation
A blanket mortgage covers multiple parcels. A partial release clause allows individual parcels to be released from the lien upon payment of a specified portion of the debt, enabling the sale of individual lots from a larger tract.
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