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Deed Of Partial Release

Deed Of Partial Release Template for Canada

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Key Requirements PROMPT example:

Deed Of Partial Release

"I need a Deed of Partial Release to release a 2-acre portion of my commercial property at 123 Business Park Drive from the existing mortgage with Royal Bank of Canada, while maintaining the mortgage on the remaining 8 acres; the release needs to be effective by March 15, 2025."

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Document background
The Deed of Partial Release is commonly used in Canadian real estate transactions when a property owner needs to release a portion of mortgaged property while maintaining the mortgage on the remaining portion. This situation often arises in property development, land subdivision, partial property sales, or when a portion of agricultural land is being sold or transferred. The document must comply with provincial property and registration laws, requiring precise property descriptions and proper execution. A Deed of Partial Release must include specific details about the original mortgage, clear identification of both the released and retained properties, and confirmation that the original mortgage remains valid on the retained portion. It's essential for property transactions involving partial releases of security interests and requires careful attention to legal requirements and registration procedures.
Suggested Sections

1. Parties: Identifies the mortgagee (lender) as the releasing party and the mortgagor (borrower) as the party receiving the release

2. Background/Recitals: References the original mortgage or charge, its registration details, and explains the context for the partial release

3. Definitions: Defines key terms including the Original Mortgage, Released Property, and Retained Property

4. Release: The operative clause that legally releases the specified portion of the property from the mortgage

5. Confirmation of Original Mortgage: Confirms that the original mortgage remains in full force and effect for the retained property

6. Property Descriptions: Detailed legal descriptions of both the released property and the retained property

7. Consideration: States the consideration (if any) for the partial release

8. Execution: Formal execution clause meeting the requirements for a deed

Optional Sections

1. Representations and Warranties: Optional warranties about the released property and authority to release - include when required by the receiving party

2. Costs: Include when there's a need to specify who bears the costs of preparing and registering the release

3. Further Assurance: Include when parties need to commit to executing additional documents to effect the release

4. Governing Law: Include when the property spans multiple jurisdictions or when specifically requested

5. Priority Confirmation: Include when there are multiple security interests and priority needs to be confirmed for the retained property

Suggested Schedules

1. Schedule A - Released Property: Detailed legal description and/or survey of the property being released

2. Schedule B - Retained Property: Detailed legal description and/or survey of the property remaining under the mortgage

3. Schedule C - Original Mortgage: Copy or extract of the original mortgage showing registration details

4. Schedule D - Survey/Plan: Survey plan or reference plan showing the released and retained portions

5. Schedule E - Consents: Any required consents from other interested parties (e.g., other charge holders)

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions




















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Relevant Industries

Banking & Financial Services

Real Estate

Property Development

Construction

Agriculture

Commercial Property

Residential Property

Infrastructure

Mining

Energy

Relevant Teams

Legal

Real Estate Operations

Mortgage Administration

Property Development

Commercial Banking

Risk Management

Compliance

Document Management

Real Estate Finance

Title Administration

Relevant Roles

Real Estate Lawyer

Property Manager

Mortgage Officer

Real Estate Development Manager

Commercial Banking Officer

Title Officer

Legal Counsel

Conveyancing Lawyer

Property Development Director

Land Registration Officer

Real Estate Operations Manager

Mortgage Administration Manager

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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