Escrow & Title
In Oklahoma, a 'partial release' clause in a blanket mortgage allows:
AThe borrower to skip mortgage payments
BIndividual properties to be released from the lien as portions of the debt are paid off, commonly used in subdivision development financing✓ Correct
CThe lender to release only part of the loan proceeds
DThe title company to partially insure the property
Explanation
A blanket mortgage covers multiple properties as collateral. A partial release clause allows individual lots/parcels to be freed from the lien as specified payments are made. This is commonly used by developers to sell individual lots while the overall development loan remains in place.
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