Oakland County Full Discharge of Memorandum of Contract Form (Michigan)

The following Michigan and Oakland County supplemental forms are included as a courtesy with your order:

When using these Full Discharge of Memorandum of Contract forms, the subject real estate must be physically located in Oakland County. The executed documents should then be recorded in the following office:

Local jurisdictions located in Oakland County include:

• Auburn Hills
• Berkley
• Birmingham
• Bloomfield Hills
• Clarkston
• Clawson
• Commerce Township
• Davisburg
• Drayton Plains
• Farmington
• Ferndale
• Franklin
• Hazel Park
• Highland
• Holly
• Huntington Woods
• Keego Harbor
• Lake Orion
• Lakeville
• Leonard
• Madison Heights
• Milford
• New Hudson
• Novi
• Oak Park
• Oakland
• Ortonville
• Oxford
• Pleasant Ridge
• Pontiac
• Rochester
• Royal Oak
• South Lyon
• Southfield
• Troy
• Union Lake
• Walled Lake
• Waterford
• West Bloomfield
• White Lake
• Wixom

Michigan statute MCL 565.361 governs the release of a Memorandum of Contract related to land contracts, mortgages, or security assignments.
Here's how it affects the release: If a party has fully fulfilled its obligations under a land contract (e.g., the buyer has paid in full), the seller must execute a conveyance of land or provide a release of security interests.

Requirement to Provide a Release or Discharge: When a land contract mortgage or security assignment is fully satisfied, the party holding the interest (usually the seller or lender) must provide a discharge or release.

Failure or Refusal to Provide a Release: If a party fails or refuses to execute the required release or discharge after full payment, they may be subject to legal penalties and enforcement actions.
Marketability of Title: The statute ensures that once obligations are met and the necessary releases are executed, the property’s title is marketable, meaning it can be freely transferred or sold.

Enforcement & Penalties: If a seller or lender wrongfully withholds a release, the buyer or borrower can seek enforcement through legal action.

Subordination to Other Interests: The statute clarifies that certain real estate interests may take priority over a land contract, affecting the order of enforcement.

Effect on the Release of a Memorandum of Contract: A Memorandum of Contract is often recorded in place of a full land contract to put the public on notice of an agreement. When obligations are fulfilled, this statute requires the release of such a memorandum to clear the title.

Failure to release the memorandum after obligations are satisfied could lead to legal action and possible penalties under this law.

Our Promise

The documents you receive here will meet, or exceed, the Oakland County recording requirements for formatting. If there's an issue caused by our formatting, we'll make it right and refund your payment.

Save Time and Money

Get your Oakland County Full Discharge 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 - ( 4564 Reviews )