Escrow & Title
In Oklahoma, which instrument is used to release an individual lot from a developer's construction loan (blanket mortgage)?
AA warranty deed
BA partial release or release deed✓ Correct
CA quitclaim deed
DA satisfaction of mortgage for the entire development
Explanation
A partial release (release deed) releases specific parcels from a blanket mortgage upon payment of the release price for those parcels. This allows a developer to sell individual lots with clear title while the overall construction loan remains on the unsold portion of the development.
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