To release a "Memorandum of a Land Installment Contract" recorded under Maine Statute 482, the process typically involves the following steps:
1. Completion of the Contract or Termination:
The memorandum can be released once the underlying land installment contract has been fully performed (i.e., the purchaser has paid off the full purchase price) or if the contract is terminated for some reason (e.g., mutual agreement, breach, or default).

2. Prepare a Release Document:
A release document should be drafted, often titled "Release of Memorandum of Land Installment Contract." This document should include:
Reference to the original recorded memorandum, including the date of recording, document number, or book and page number where the memorandum was recorded.
A statement that the underlying land installment contract has been fulfilled, satisfied, or terminated.
A description of the property that was the subject of the land installment contract.
The names of the vendor and purchaser, consistent with the original memorandum.
Signatures of the vendor (and purchaser if applicable) acknowledging the release.

3. Signatures and Notarization:
The release should be signed by the party(ies) authorized to release the memorandum—typically the vendor and, in some cases, the purchaser.
The signatures must be notarized to verify their authenticity.

4. Record the Release:
The signed and notarized release must be recorded in the same registry of deeds where the original memorandum was recorded. This ensures that the public record reflects that the land installment contract has been discharged or released.

For use in Maine only.

How to Use This Form

Select your county from the list above
Download the county-specific form
Fill in the required information
Have the document notarized if required
Record with your county recorder's office

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Common Uses for Full Release of Memorandum of a Land Installment Contract

Formalize an existing informal land purchase agreement
Establish the terms of a real estate transaction before closing
Transfer a buyer's equitable interest in a contract for deed
Memorialize a contract for deed in the county records
Document a rent-to-own or lease-purchase arrangement

Compare other Maine deed forms and documents

Quitclaim Deed Quitclaim Deed with Covenants Gift Deed Warranty Deed Grant Deed Correction Deed Easement Deed Termination of Easement Trustee Deed Personal Representative Deed of Distribution Testate Personal Representative Deed of Distribution Intestate Personal Representative Deed of Sale Testate Personal Representative Deed of Sale Intestate Mortgage Instrument and Promissory Note Discharge of Mortgage Land Installment Contract Memorandum of a Land Installment Contract General Durable Power of Attorney Durable Limited Real Estate Power of Attorney (Sale) Durable Limited Real Estate Power of Attorney (Purchase) Notice of Furnishing Notice to Owner Notice of Mechanic Lien Release of Mechanic Lien Conditional Lien Waiver on Progress Payment Unconditional Lien Waiver on Progress Payment Conditional Lien Waiver on Final Payment Unconditional Lien Waiver on Final Payment Transfer of Death Deed Transfer on Death Deed Revocation Notice of Death Affidavit Disclaimer of Property Interest Certificate of Trust

Important: County-Specific Forms

Our full release of memorandum of a land installment contract forms are specifically formatted for each county in Maine.

After selecting your county, you'll receive forms that meet all local recording requirements, ensuring your documents will be accepted without delays or rejection fees.

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