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partial release |
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Partial Release A provision in some mortgages allowing part of the collateral (which, in this case, is the property underlying the mortgage) to be released under certain stated circumstances. For example, once the property owner has repaid a given percentage of the principal, part of the property may be released from the collateral under a partial release provision. partial release A mortgage lender's release of its lien from only some portion of the land mortgaged. Usually encountered in subdivision development.The lender and the developer will have a prearranged ratio for division of proceeds from the sale of each parcel. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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