The Deed of Release of Covenant is utilized when property owners need to remove existing restrictions or obligations that were previously placed on their property. This document is particularly important in real estate transactions where existing covenants may impede property development, sale, or use. Under U.S. property law, the deed must be properly executed and recorded to effectively release the covenant. It typically includes specific property descriptions, clear release language, and proper notarization. The document is commonly used when development restrictions are no longer necessary, when property use changes, or when modernizing outdated restrictions.
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1. Parties: Identification of grantor (releasing party) and grantee
2. Background: Details of original covenant and reason for release
3. Definitions: Key terms used in the deed
4. Property Description: Legal description of affected property
5. Release Statement: Formal release language of the covenant
6. Execution: Signature blocks and notarization
1. Consideration: Details of any payment or consideration for the release - used when release is given in exchange for payment
2. Partial Release: Specific details if only part of covenant is being released - used when only releasing portion of original covenant
3. Representations and Warranties: Statements about authority to release - used when additional assurance of authority is needed
1. Schedule A - Property Description: Detailed legal description of property
2. Schedule B - Original Covenant: Copy or reference to original covenant being released
3. Schedule C - Survey/Plans: Property surveys or plans if relevant to release
4. Appendix 1 - Supporting Documents: Any additional documentation supporting release authority
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