Release of Interest in Security

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This Release of Interest in Security will effectively release a creditor's security in specific assets. This agreement sets out a description of the secured property and creditor's agreement to release its security interests. It is important that this release be clearly set out in writing.

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This Release of Interest in Security will effectively release a creditor's security on a certain type of property. This release sets forth the names of all parties, including the purchaser of the property, type and date of any security agreement and a detailed description of the assets on which security is released. It is imperative that this release be clearly set out in writing. A written Release of Interest in Security will prove invaluable in the event there are disagreements or misunderstandings regarding any security held on a piece of property once it has been purchased.

This Release of Interest in Security contains the following:
  • Parties: Sets forth the names of the purchaser and the debtor;
  • Security Information: Detailed description of the property on which the security is held, type of agreement and its date;
  • Release of Interest: Sets forth that secured creditor releases all security and interest in the property;
  • Signatures: This agreement must be signed and dated by the secured party.

Protect your rights and your property by using our attorney-prepared forms.

This attorney-prepared packet contains:
  1. General Instructions
  2. Release of Interest in Security
State Law Compliance: This form complies with the laws of all states
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.
 
 
Release of Interest

 

 

TO:   [Name of Purchaser] (the "Purchaser")
AND TO:   [Name of Debtor] (the "Debtor")
WHEREAS:
(A)   Pursuant to a [Type of Agreement (ie. Security Agreement)] dated [Date of Security Agreement (ie. July 31, 2002)] (the "Security Agreement") between the undersigned (the "Secured Creditor") and [Name of Debtor] (the "Debtor"), the Debtor granted to the Secured Creditor security over various assets of the Debtor, including a [Describe Property or Assets being Sold (ie. a 4 ton Crane manufactured by XYX Co. bearing serial No.1234567)] (the "Purchased Asset"), as security for certain indebtedness of the Debtor to the Secured Creditor; and
(B)   The Borrower wishes to sell to [Name of Purchaser] (the "Purchaser") the Purchased Asset, free and clear of any security interests, liens or other encumbrances;
NOW THEREFORE in consideration of the premises, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Secured Creditor hereby (i) releases any and all right, title and interest it may have in and to the Purchased Asset, and (ii) acknowledges that the Purchaser is relying upon this Release of Interest in acquiring an interest in the Purchased Asset.
This Release of Interest will enure to the benefit of the heirs, executors, administrators, successors and assigns of the Purchaser.
Dated this _____ day of ____________________, 20_____.
 
 
 
[NAME OF SECURED PARTY]
 
 
 
 
Per:
 
 
 
 
Name:   
Title:   
 
Number of Pages3
DimensionsDesigned for Letter Size (8.5" x 11")
EditableYes (.doc, .wpd and .rtf)
UsageUnlimited number of prints
Product number#28642
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.
 
 
Release of Interest

 

 

TO:   [Name of Purchaser] (the "Purchaser")
AND TO:   [Name of Debtor] (the "Debtor")
WHEREAS:
(A)   Pursuant to a [Type of Agreement (ie. Security Agreement)] dated [Date of Security Agreement (ie. July 31, 2002)] (the "Security Agreement") between the undersigned (the "Secured Creditor") and [Name of Debtor] (the "Debtor"), the Debtor granted to the Secured Creditor security over various assets of the Debtor, including a [Describe Property or Assets being Sold (ie. a 4 ton Crane manufactured by XYX Co. bearing serial No.1234567)] (the "Purchased Asset"), as security for certain indebtedness of the Debtor to the Secured Creditor; and
(B)   The Borrower wishes to sell to [Name of Purchaser] (the "Purchaser") the Purchased Asset, free and clear of any security interests, liens or other encumbrances;
NOW THEREFORE in consideration of the premises, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Secured Creditor hereby (i) releases any and all right, title and interest it may have in and to the Purchased Asset, and (ii) acknowledges that the Purchaser is relying upon this Release of Interest in acquiring an interest in the Purchased Asset.
This Release of Interest will enure to the benefit of the heirs, executors, administrators, successors and assigns of the Purchaser.
Dated this _____ day of ____________________, 20_____.
 
 
 
[NAME OF SECURED PARTY]
 
 
 
 
Per:
 
 
 
 
Name:   
Title:   
 
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