Iron County Partial Discharge of Mortgage Forms (Michigan)

Form Package

Partial Discharge of Mortgage

State

Michigan

Area

Iron County

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$27.97

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Included Forms

All Iron County specific forms and documents listed below are included in your immediate download package:

Included Supplemental Documents

The following Michigan and Iron County supplemental forms are included as a courtesy with your order.

Frequently Asked Questions:

Areas Covered by These Partial Discharge of Mortgage Forms:

• Iron County

Including:

• Alpha
• Amasa
• Caspian
• Crystal Falls
• Gaastra
• Iron River
• Stambaugh

What is the Michigan Partial Discharge of Mortgage

Use this form to release a portion of property secured by a mortgage and promissory note. Example: borrower has financed 5 lots for $100,000.00 which has since been paid down to a balance of $30,000.00. Borrower approaches Lender and would like the lender to release lot #3 because he has it sold. The lender might think, ok - he will owe me $30,000.00 on the remaining 4 lots, I consider this a good risk. The same can also be applicable to condominiums, apartments, parcels, etc.

This form is used by the (mortgagee or the personal representative, successor, or assign of the mortgagee), who (shall prepare a discharge of the mortgage, file the discharge with the register of deeds for the county where the mortgaged property is located, and pay the fee for recording the discharge.) (565.41 Sec. 41(1)) A mortgagee is often referred to as a lender.

(Michigan PDOM Package includes form, guidelines, and completed example)

Our Promise

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

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