Preston County Release of Memorandum of Contract Form

Additional West Virginia and Preston County documents included at no extra charge:

Where to Record Your Documents

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Cities and Jurisdictions in Preston County

Properties in any of these areas use Preston County forms:

• Albright
• Arthurdale
• Aurora
• Bretz
• Bruceton Mills
• Eglon
• Independence
• Kingwood
• Masontown
• Newburg
• Reedsville
• Rowlesburg
• Terra Alta
• Tunnelton

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When a Memorandum of Land Contract should Be Released in WV
1. The Land Contract Has Fully Closed
-Deed has been delivered and recorded
-Purchase price paid in full
-Contract merged into the deed
a. Release immediately after deed recording

2. The Land Contract Is Terminated or Canceled
Examples:
-Mutual written termination
-Buyer default and contract termination
-Seller forfeiture (if allowed by contract)
a. Release as soon as termination is effective Leaving it of record after termination improperly clouds title.

3. The Contract Has Expired by Its Own Terms
-Option period ended
-Time-limited contract expired without closing
a. Release once expiration occurs

4. A Replacement Instrument Has Been -Recorded
-Deed in lieu
-Assignment or novation that supersedes the original contract
a. Release original memorandum

5. Upon Written Demand by Seller or Title Company
-WV recognizes that unreleased memoranda can create a false cloud on title
-Title insurers routinely require a release before closing any later transaction
a. Release promptly to avoid title objections

When a Memorandum SHOULD NOT Be Released
-While the contract is still active
-Before buyer’s equitable interest ends
-Without authority (unless unilateral release rights exist)

Who Can Execute the Release in WV?
a. Best Practice
Both parties (Buyer & Seller)
b. Commonly Accepted
Buyer alone (the party who benefited from the memorandum)
c. Also Accepted (if contract allows) Seller alone, if:
Contract authorizes unilateral release upon default/termination
-Affidavit of termination or forfeiture is recorded
-WV clerks typically accept any of the above if the release is properly executed and notarized.
-Practical Title-Company Rule (What Actually Matters)
-If the memorandum no longer reflects a current property interest, it should not remain of record.

Failing to release:
-Clouds title
-Delays refinancing or resale
-triggers title underwriting exceptions

(WV-Specific): Release promptly upon payoff, termination, or expiration
Instrument number alone is sufficient
No statute mandates timing, but delay creates title risk
title companies expect release before any new conveyance

Important: Your property must be located in Preston County to use these forms. Documents should be recorded at the county recording office listed above.

This Release of Memorandum of Contract meets all recording requirements specific to Preston County.

Our Promise

The documents you receive here are guaranteed to meet or exceed the applicable Preston County recording format requirements. If there is a rejection caused by our formatting, we will correct the issue or refund your payment. This guarantee applies to document formatting only and does not extend to information entered by the user, the selection of the form, or the legal effect of the completed document.

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