Ohio Full Release of Memorandum and Notice of Agreement

In Ohio, a Full Release of Memorandum and Notice of Agreement (typically referring to a land contract or real estate contract) should be recorded when the underlying agreement is terminated, satisfied, or no longer enforceable. This ensures clear title and protects future buyers, lenders, and owners.
________________________________________
When to Record a Full Release of Memorandum
You should record the release when:
1. The Land Contract or Agreement Has Been Fully Performed
• The buyer has completed all installment payments under a land contract.
• Title has been (or will be) transferred by deed.
• The contract is no longer needed as evidence of equitable interest.
2. The Contract Has Been Terminated or Canceled
• If either party lawfully terminates the agreement (e.g., buyer default, mutual rescission).
• This includes forfeiture proceedings or cancellation by mutual release.
3. To Clear Cloud on Title
• A recorded Memorandum and Notice of Agreement creates a public notice of a party’s interest.
• If that interest no longer exists, failing to release it can cloud title and prevent sale or refinancing.
________________________________________
Why Recording Is Important
Reason Explanation
Clear chain of title Prevents confusion over current ownership and interest.
Protects future buyers/lenders Shows the agreement is no longer in effect, reducing risk.
Complies with title company requirements Needed for issuing clear title insurance.
Avoids potential litigation Prevents claims of continuing interest or disputes.
________________________________________
Legal Background
In Ohio, there's no statute that specifically requires a release of a memorandum — but once a memorandum is recorded (under R.C. § 5301.25), it becomes constructive notice of the agreement. If the agreement ends, releasing that memorandum is strongly recommended to:
• Avoid misleading third parties
• Ensure a clean public record