Property Ownership
In Tennessee, a 'deed of release' is the document used to:
ATransfer a deed from the seller to the buyer
BRemove a paid-off deed of trust or mortgage from the public record✓ Correct
CRelease a life tenant from their obligations
DTransfer easement rights to a new owner
Explanation
When a deed of trust is paid off, the lender (beneficiary) executes a deed of release (also called a release of deed of trust or satisfaction) that, when recorded, removes the lien from the property's title in the public record.
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Key Terms to Know
Deed of Trust
A security instrument used in many states instead of a mortgage, involving three parties: borrower (trustor), lender (beneficiary), and a neutral trustee.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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