A Partial Lien Release is essential in situations where a property owner wishes to free a portion of mortgaged or liened property while maintaining the security interest on the remaining portion. This document type is commonly used in India when subdividing property, selling a portion of mortgaged land, or releasing individual units in a development project. The Partial Lien Release must comply with Indian legal requirements and typically includes detailed property descriptions, reference to the original lien, and specific terms of the release. It requires proper execution before a notary and registration with the sub-registrar's office as per the Registration Act, 1908. The document is crucial for property developers, financial institutions, and property owners who need to manage their secured assets while maintaining existing security arrangements on remaining properties.
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1. Parties: Identifies the Lienor (party releasing the lien) and Lienee (property owner), including their full legal names and addresses
2. Recitals: Background information including reference to the original lien, its recording details, and the reason for partial release
3. Definitions: Defines key terms used in the document including 'Released Property', 'Remaining Property', 'Original Lien' etc.
4. Release Statement: The operative part declaring the partial release of lien from the specified property
5. Property Description: Detailed legal description of both the property being released and the property remaining under lien
6. Continuing Lien: Statement confirming that the original lien remains in full force and effect on the remaining property
7. Representations and Warranties: Lienor's confirmation of authority to release the lien and other standard warranties
8. Execution: Signature blocks for all parties with notary acknowledgment
1. Consideration: Details of any payment or consideration given for the partial release, used when there is a payment involved
2. Special Conditions: Any specific conditions or requirements for the partial release, included when there are unique circumstances
3. Indemnification: Provisions for indemnification between parties, included when required by either party
4. Governing Law: Specific jurisdiction clauses, included when dealing with cross-state properties or at request of parties
5. Further Assurances: Commitment to execute additional documents if needed, included in complex transactions
1. Schedule A - Released Property: Detailed legal description and/or survey of the property being released from the lien
2. Schedule B - Remaining Property: Detailed legal description and/or survey of the property remaining under lien
3. Schedule C - Original Lien Document: Copy or extract of the original lien document with recording information
4. Appendix 1 - Property Maps: Visual representation of the released and remaining property portions
5. Appendix 2 - Required Consents: Copies of any required third-party consents or approvals for the partial release
Relevant legal definitions
Original Lien
Released Property
Remaining Property
Effective Date
Lienor
Lienee
Original Security Document
Property Documents
Permitted Encumbrances
Registration Authority
Release Date
Security Interest
Consideration
Original Principal Amount
Outstanding Amount
Sub-Registrar
Authorized Representative
Execution Date
Governing Law
Jurisdiction
Property Description
Title Documents
Recording Information
Release Instrument
Security Trustee
Applicable Law
Business Day
Stamp Duty
Released Property
Remaining Property
Effective Date
Lienor
Lienee
Original Security Document
Property Documents
Permitted Encumbrances
Registration Authority
Release Date
Security Interest
Consideration
Original Principal Amount
Outstanding Amount
Sub-Registrar
Authorized Representative
Execution Date
Governing Law
Jurisdiction
Property Description
Title Documents
Recording Information
Release Instrument
Security Trustee
Applicable Law
Business Day
Stamp Duty
Clauses
Identification of Parties
Recitals
Definitions
Property Description
Release Declaration
Consideration
Continuing Security
Representations and Warranties
Authority and Capacity
Registration and Stamp Duty
Further Assurances
Governing Law
Execution
Notarization
Severability
Amendment
Notices
Indemnification
Costs and Expenses
Entire Agreement
Counterparts
Survival
Recitals
Definitions
Property Description
Release Declaration
Consideration
Continuing Security
Representations and Warranties
Authority and Capacity
Registration and Stamp Duty
Further Assurances
Governing Law
Execution
Notarization
Severability
Amendment
Notices
Indemnification
Costs and Expenses
Entire Agreement
Counterparts
Survival
Relevant Industries
Real Estate
Banking and Financial Services
Construction
Infrastructure Development
Commercial Property
Residential Property
Industrial Property
Agricultural Property
Relevant Teams
Legal
Real Estate
Property Management
Mortgage Operations
Compliance
Risk Management
Documentation
Title Processing
Corporate Affairs
Legal Operations
Relevant Roles
Legal Counsel
Property Lawyer
Real Estate Manager
Mortgage Officer
Property Developer
Title Officer
Compliance Officer
Real Estate Attorney
Banking Manager
Property Rights Specialist
Legal Documentation Manager
Real Estate Transaction Manager
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