Download Louisiana Release by Obligee of Record of an Unparaphed Obligation Legal Forms

This release: Cancels the recorded interest (the buyer’s equitable or contractual interest), Clears the title for future sales or refinancing, Is used in situations like default, termination, or mutual release of the Bond for Deed and or Notice of Bond for Deed

In Louisiana, a Release by Obligee / Seller of Record of an Unparaphed Obligation can be used to cancel a Bond for Deed that was recorded in both the mortgage and conveyance records, provided the bond is not paraphed.
You may use this form of release if:
1. The Bond for Deed or related memorandum is recorded in the mortgage or conveyance records;
2. The obligation is not paraphed (i.e., not marked by a notary on a promissory note);
3. The seller (obligee of record) is the one executing the release.

Purpose of this release:
Cancels the recorded interest (the buyer’s equitable or contractual interest),
Clears the title for future sales or refinancing,
Is used in situations like default, termination, or mutual release of the Bond for Deed.

What the Release Should Include:
Names of obligee (seller) and obligor (buyer),
Date and reference to the original recorded Bond for Deed or memorandum (book/page or instrument number),
Statement that the obligation is released,
Executed as an authentic act (i.e., signed before a notary and two witnesses),
Filed and recorded in the same parish where the original document was recorded.

Important Notes:
This form is not used for paraphed obligations (i.e., those tied to a specific promissory note paraphed by a notary).
If the buyer has defaulted and disputes the release, you may still need a court action (e.g., declaratory judgment or cancellation suit).

Always include proper legal descriptions and cite the relevant statute in the release.

What Is a Paraphed Document?
A paraphed document is one that a notary public has marked - typically with the notation "ne varietur" (Latin for "it must not be altered") - to link it directly to another legal instrument, such as a mortgage. This process involves the notary signing and possibly sealing the document, thereby certifying its authenticity and its association with a specific act. The paraph serves as prima facie evidence that the obligation is the one described in the act, facilitating enforcement and cancellation procedures.