Gem County Full Release of Memorandum of Contract Form

Additional Idaho and Gem County documents included at no extra charge:

Where to Record Your Documents

---

Cities and Jurisdictions in Gem County

Properties in any of these areas use Gem County forms:

• Emmett
• Letha
• Ola
• Sweet

---

In Idaho, standard practice involves recording a Release of Memorandum of Contract or a Satisfaction of Contract with the county recorder's office where the original memorandum was filed.

Preparation of Release Document:
Content: The release should reference the original memorandum, including details such as the recording date, document number, and parties involved.

Signatures: All original parties to the contract should sign the release, and their signatures need to be notarized to meet recording requirements.

Recording the Release:
Submission: Present the completed release document to the county recorder's office where the original memorandum was recorded.

Legal Descriptions and Indexing:
Ensure that the release document includes accurate legal descriptions of the property and references to the original memorandum to facilitate proper indexing and public notice.
Failing to release a Memorandum of Contract for real property after the underlying contract has been satisfied can lead to several legal and practical consequences:

1. Title Clouding
Impact: The memorandum remains on public record, creating a "cloud" on the title.
Result: This may prevent the property owner from selling, refinancing, or otherwise transacting with the property until the memorandum is released.

Legal Risk: Title companies might refuse to issue clear title insurance.
2. Potential Legal Liability
Civil Lawsuits: The property owner or other affected parties could file a lawsuit against the party responsible for failing to release the memorandum. Claims may include:
Breach of contract: If the underlying agreement requires prompt release upon satisfaction.

Slander of title: If the continued existence of the memorandum falsely implies an unresolved claim against the property.

Damages: The court may award compensation for financial losses resulting from the clouded title, such as lost sale opportunities or delays in transactions.

Important: Your property must be located in Gem County to use these forms. Documents should be recorded at the county recording office listed above.

This Full Release of Memorandum of Contract meets all recording requirements specific to Gem County.

Our Promise

The documents you receive here are guaranteed to meet or exceed the applicable Gem County recording format requirements. If there is a rejection caused by our formatting, we will correct the issue or refund your payment. This guarantee applies to document formatting only and does not extend to information entered by the user, the selection of the form, or the legal effect of the completed document.

Save Time and Money

Get your Gem County Full Release of Memorandum of Contract form done right the first time with Deeds.com Uniform Conveyancing Blanks. At Deeds.com, we understand that your time and money are valuable resources, and we don't want you to face a penalty fee or rejection imposed by a county recorder for submitting nonstandard documents. We constantly review and update our forms to meet rapidly changing state and county recording requirements for roughly 3,500 counties and local jurisdictions.

4.8 out of 5 - ( 4,796 Reviews )