A Deed of Partial Reconveyance is utilized when a property owner wishes to release a specific portion of mortgaged property while maintaining the mortgage on the remainder. This commonly occurs in property development scenarios or when selling part of a mortgaged property. The deed must precisely identify the portion being released and comply with English and Welsh property law requirements. It includes detailed property descriptions, plans, and necessary declarations to ensure legal validity. The document must be properly executed as a deed and registered with the Land Registry to be effective.
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1. Parties: Identification of the mortgagee/lender and mortgagor/borrower with their full legal names and addresses
2. Background: Details of the original mortgage and reason for partial reconveyance, including reference to the original mortgage deed
3. Definitions: Key terms used in the deed including Property, Mortgage, Released Land, and Retained Land
4. Property Description: Detailed description of the portion being reconveyed, including boundaries and measurements
5. Reconveyance Declaration: Formal statement of reconveyance releasing the specified portion from the mortgage
6. Execution: Signature blocks and attestation clauses for all parties
1. Rights Reserved: Section detailing any rights retained by the mortgagee over the reconveyed portion
2. Covenants: Additional promises or obligations between the parties regarding the reconveyed portion
3. Conditions Precedent: Any conditions that must be met before the reconveyance becomes effective
1. Schedule 1 - Property Plan: Detailed plan showing the portion of property being reconveyed with boundaries clearly marked
2. Schedule 2 - Original Mortgage Details: Copy or details of the original mortgage deed including date, parties, and registration information
3. Schedule 3 - Title Information: Relevant title numbers and registration details from the Land Registry
4. Appendix A - Supporting Documents: Additional documentation required for the reconveyance including any necessary certificates or consents
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