Use this form to release a Memorandum of Contract when satisfied.

Common Reasons to Release a Memorandum of Contract:
1. Clear Title to the Property
The Memorandum of Contract acts as a public notice that the buyer and seller are in an ongoing contractual relationship regarding the property, which can cloud the title. Once the contract for deed is satisfied, the buyer becomes the full owner of the property, and the memorandum no longer serves a purpose. If it is not released, it may appear as an unresolved encumbrance, which can complicate the buyer’s ability to prove clear title or transfer the property in the future.

2. Facilitates Future Transactions
A property with a clouded title (due to the unreleased memorandum) can cause issues when the buyer wants to:
Sell the property.
Refinance the property.
Use the property as collateral for a loan.

Title companies often refuse to issue title insurance for a property if a recorded memorandum remains on file, which could hinder or prevent future transactions.

3. Removes Legal Encumbrances
An unreleased memorandum could be interpreted as an ongoing interest or claim on the property by the seller. This can create legal complications, leading to potential disputes or litigation, especially if the seller or third parties assert a claim on the property based on the unreleased memorandum. Releasing the memorandum removes this potential legal encumbrance.

4. Compliance with Recording Laws
Mississippi statutes, like Mississippi Code § 89-5-19, require the release of recorded instruments once they have been satisfied. Failure to do so may violate these statutory obligations and could subject the parties (usually the seller) to penalties or legal consequences. Properly recording the release ensures compliance with state law.

5. Prevents Misunderstandings or Fraud
Leaving a recorded memorandum in place may cause confusion or even fraud in the future, especially if third parties mistakenly believe that the contract is still active. This can lead to misunderstandings, disputes, or fraudulent claims of ownership. By releasing the memorandum, the public record clearly shows that the contract has been concluded.

6. Buyer’s Right to Clear Ownership
Upon satisfaction of the contract for deed, the buyer has the right to full and unencumbered ownership of the property. Releasing the memorandum ensures that there is no record of the seller having an ongoing claim or interest, affirming the buyer’s rightful ownership.

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 Contract

Sell property with seller financing instead of a traditional mortgage
Release a land contract from public record after the buyer completes all payments
Remove a recorded land contract lien after final payment
Establish the terms of a seller-financed real estate sale
Transfer a buyer's equitable interest in a contract for deed
Release a previously recorded affidavit of equitable interest
Formalize an existing informal land purchase agreement

Compare other Mississippi deed forms and documents

Quitclaim Deed Quitclaim Deed Reserving Life Estate Gift Deed Warranty Deed Warranty Deed Reserving Life Estate Special Warranty Deed Grant Deed Correction Deed Easement Deed Termination of Easement Trustee Deed for Inter Vivos Trust Revocable Transfer on Death Deed Revocation of Transfer on Death Deed Executor Deed Administrator Deed Mineral Deed Mineral Deed with Quitclaim Covenants General Durable Power of Attorney Specific Power of Attorney for the Purchase of Property Specific Power of Attorney for the Sale of Property Deed of Trust and Promissory Note Assignment of Deed of Trust Release of Deed of Trust Substitution of Trustee Trustee Deed for Sale of Foreclosed Property Assignment of Leases and Rents Authority to Cancel Assignment of Leases and Rents Contract for the Sale and Purchase Of Real Property Memorandum of Contract Disclaimer of Interest Certificate of Trust Lis Pendens Release of Lis Pendens

Important: County-Specific Forms

Our full release of memorandum of contract forms are specifically formatted for each county in Mississippi.

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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