partial release(redirected from Partial Releases)
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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.
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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.
The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.