The Release of Lien Texas form is a legal document used to officially release a lien on a property once the associated debt has been paid in full. This form serves as a confirmation that the holder of the lien acknowledges the payment and relinquishes any rights to enforce the lien in the future. Completing this form is essential for property owners to clear their titles and ensure that no further claims exist on their property.
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When filling out the Release of Lien Texas form, there are some important things to keep in mind. Here’s a list of what you should and shouldn’t do:
Prepared by the State Bar of Texas for use by lawyers only.
E 1999 by the State Bar of Texas
RELEASE OF LIEN
Date:
Holder of Note and Lien:
Holder’s Mailing Address (including county):
Note
Original principal amount:
Borrower:
Lender:
Maturity date (optional):
Note and Lien Are Described in the Following Documents, Recorded in:
Property (including any improvements):
Holder of Note and Lien is the owner and holder of the Note and Lien described above.
Holder of Note and Lien acknowledges payment in full of the Note and releases the Property from the Lien and from all liens held by Holder of Note and Lien, without regard to how they were created or evidenced.
Holder of Note and Lien expressly waives and releases all present and future rights to establish or enforce the Lien as securi- ty for payment of any future or other indebtedness.
When the context requires, singular nouns and pronouns include the plural.
(Acknowledgment)
STATE OF TEXAS
COUNTY OF
This instrument was acknowledged before me on
,
by
.
Notary Public, State of Texas
Notary’s name (printed):
Notary’s commission expires:
(Corporate Acknowledgment)
of
a
corporation, on behalf of said corporation.
AFTER RECORDING RETURN TO:
PREPARED IN THE LAW OFFICE OF:
Texas Department of Motor Vehicle - Those submitting the form should attach supporting documents if needed.
Texas Boat Transfer Form - Certain conditions may exempt you from sales tax; review qualifying criteria.
When dealing with a Release of Lien in Texas, several other documents may be necessary to ensure a smooth transaction. Each of these forms plays a vital role in the process of releasing a lien and confirming the status of the property. Below are some commonly used forms alongside the Release of Lien.
Each of these documents serves a specific purpose in the lien release process. Having them prepared and properly executed can help avoid complications and ensure that all parties are protected. Always consult with a legal professional to ensure compliance with Texas laws and regulations.
Completing the Release of Lien form in Texas can be straightforward, but several common mistakes can lead to complications. One frequent error is failing to provide accurate information in the fields for the Holder of Note and Lien. This includes the holder’s mailing address, which must be complete and include the county. Inaccurate or incomplete details can delay the processing of the release.
Another common mistake involves neglecting to specify the Note Date and the Original Principal Amount. These details are essential for identifying the specific lien being released. Omitting this information can create confusion and potentially invalidate the release.
Many individuals also overlook the importance of including the Property description. The form requires a detailed description of the property, including any improvements. A vague or incomplete description can lead to disputes over which property the lien is being released from.
Additionally, the acknowledgment section is often filled out incorrectly. The notary's information must be complete and accurate, including the date of acknowledgment and the notary's printed name. Errors in this section can render the document unenforceable.
Another mistake is failing to sign the form. Both the holder of the note and the notary must sign the document. If either signature is missing, the release may not be valid.
People frequently forget to check if the Maturity Date is optional but still relevant. If the maturity date is included, it should be accurate. This oversight can lead to confusion regarding the status of the loan.
In some cases, individuals may not fully understand the implications of waiving future rights to enforce the lien. This clause should be read carefully, as it relinquishes any claim to the property for future debts.
Another mistake involves not keeping a copy of the completed form for personal records. It is crucial to retain a copy for future reference, especially if any disputes arise regarding the lien.
Lastly, individuals may fail to return the completed form to the correct address after recording. Ensuring that the document is sent to the appropriate law office is essential for proper processing and record-keeping.
Understanding the Release of Lien form in Texas is essential for both borrowers and lenders. However, several misconceptions can lead to confusion. Here are seven common misconceptions:
Clearing up these misconceptions can help ensure a smoother process when dealing with liens in Texas.
Filling out and using the Release of Lien Texas form is a critical process for ensuring that a lien is properly released. Here are some key takeaways to keep in mind:
By keeping these points in mind, you can navigate the process of filling out and using the Release of Lien Texas form with confidence and clarity.
After completing the Release of Lien form, the next step involves ensuring that it is properly signed and notarized. This document must then be filed with the appropriate county office to officially release the lien. Follow these steps to fill out the form accurately.