Release Of Mortgage Document Template for Saudi Arabia

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Key Requirements PROMPT example:

Release Of Mortgage Document

"I need a Release of Mortgage Document under Saudi Arabian law for Al Rajhi Bank releasing their security interest in my residential property in Riyadh, following full repayment of the mortgage on January 15, 2025."

Document background
The Release Of Mortgage Document is a crucial legal instrument in Saudi Arabian property transactions, used when a borrower has fully satisfied their mortgage obligations and the lender needs to formally relinquish their security interest in the property. This document is essential for clearing property titles and enabling future transactions. It must be prepared in accordance with the Saudi Arabian Mortgage Law of 2012, Real Estate Registration Law, and Islamic Sharia principles. The document includes specific details about the original mortgage, property description, confirmation of debt satisfaction, and formal release declarations. It requires proper execution before authorized officials and subsequent registration with relevant government authorities to be legally effective.
Suggested Sections

1. Heading and Date: Document title, date of execution, and reference number of the original mortgage

2. Parties: Full legal names and details of the Mortgagee (lender) and Mortgagor (borrower), including their official identification numbers and addresses

3. Recitals: Background information including the original mortgage details, property description, and confirmation that all obligations have been fulfilled

4. Definitions: Key terms used in the document, including references to the original mortgage agreement and property details

5. Release Declaration: Formal statement releasing the mortgage and relinquishing all rights and interests in the property

6. Property Description: Detailed legal description of the mortgaged property, including title deed number and location details

7. Authority to Register: Authorization for the relevant authorities to record the release in official records

8. Governing Law: Confirmation that the document is governed by Saudi Arabian law and Sharia principles

9. Execution: Signature blocks for all parties and required witnesses

Optional Sections

1. Further Assurance: Additional clause where the mortgagee agrees to execute any further documents necessary to effect the release, used when dealing with complex property arrangements

2. Return of Original Documents: Section confirming the return of original mortgage documents, used when physical documents need to be returned

3. Power of Attorney: Required when the release is being executed by an authorized representative rather than the primary party

4. Outstanding Payments Confirmation: Declaration confirming no outstanding payments are due, used in cases where there might be doubt about full settlement

Suggested Schedules

1. Schedule 1 - Property Details: Comprehensive legal description of the property including boundary details, title information, and any relevant survey references

2. Schedule 2 - Original Mortgage Details: Details of the original mortgage agreement including date, parties, and registration information

3. Appendix A - Required Government Forms: Any statutory forms required by Saudi Arabian authorities for mortgage release registration

4. Appendix B - Supporting Documents: List of accompanying documents such as payment receipts, clearance certificates, or other relevant evidence

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant Industries

Banking

Real Estate

Financial Services

Islamic Finance

Property Development

Legal Services

Mortgage Services

Construction

Housing Development

Relevant Teams

Legal

Real Estate

Mortgage Operations

Compliance

Documentation

Property Services

Islamic Banking

Risk Management

Customer Service

Relevant Roles

Mortgage Officer

Real Estate Lawyer

Property Manager

Banking Officer

Legal Counsel

Compliance Officer

Real Estate Agent

Property Developer

Financial Manager

Islamic Finance Specialist

Loan Officer

Title Officer

Real Estate Transaction Manager

Documentation Specialist

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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