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Deed Of Partial Release

Deed Of Partial Release Template for Philippines

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Key Requirements PROMPT example:

Deed Of Partial Release

"I need a Deed of Partial Release for a mortgaged commercial property in Manila, where we're releasing 500 square meters of the total 2000 square meter lot for sale to a retail developer, with the release to be effective March 15, 2025."

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Document background
A Deed of Partial Release is commonly utilized in the Philippines when a property owner seeks to free a portion of their mortgaged property from an existing lien or encumbrance. This typically occurs in scenarios such as property subdivision, partial loan repayment, or development projects where only part of the property needs to be released. The document must strictly comply with Philippine legal requirements, including the Civil Code and Property Registration Decree, and requires careful drafting to ensure proper property descriptions, clear release terms, and continuation of security over the unreleased portion. It's essential for property development, financing arrangements, and real estate transactions where partial property releases are necessary. The Deed of Partial Release must be properly executed before a notary public and registered with the Land Registration Authority to be legally effective.
Suggested Sections

1. Parties: Identifies the parties to the deed, including the mortgagee/creditor granting the release and the mortgagor/debtor receiving the release

2. Background: Recitals detailing the original mortgage or obligation, its recording details, and the circumstances leading to the partial release

3. Definitions: Key terms used in the deed, including property descriptions, relevant dates, and technical terms

4. Property Description: Detailed technical description of the specific portion of property being released, including metes and bounds or technical description as per Philippine cadastral requirements

5. Release Declaration: Formal statement of release, specifically describing what portion of the property or obligation is being released from the original encumbrance

6. Consideration: Statement of any consideration given for the partial release, if applicable

7. Continuing Security: Clear statement that the original security/mortgage continues to remain in effect for the unreleased portion

8. Representations and Warranties: Statements confirming the releasing party's authority and capacity to grant the release

9. Execution: Formal execution block meeting Philippine notarial requirements

Optional Sections

1. Tax Declarations: Include when there are specific tax implications or requirements related to the partial release

2. Consent of Other Parties: Required when there are other interested parties whose consent is necessary for the partial release

3. Registration Instructions: Include when specific instructions for registration with the Land Registration Authority are needed

4. Prior Encumbrances: Include when there are other existing encumbrances that need to be addressed or acknowledged

5. Conditions Precedent: Include when the partial release is subject to certain conditions being met

Suggested Schedules

1. Property Schedule: Technical description of the property being released, including surveys, maps, or plans

2. Original Security Document: Copy or extract of the original mortgage or security document being partially released

3. Title Documents: Relevant title documents or certified true copies showing current ownership and encumbrances

4. Tax Certificates: Current tax declarations and certificates of payment for the subject property

5. Authorization Documents: Corporate authorizations, board resolutions, or powers of attorney if any party is a corporation or acting through a representative

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
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Relevant Industries

Banking and Financial Services

Real Estate and Property Development

Construction

Agriculture (for agricultural land)

Industrial and Manufacturing

Commercial Real Estate

Residential Real Estate

Legal Services

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Credit and Risk

Corporate Secretariat

Finance

Mortgage Operations

Land Administration

Documentation

Relevant Roles

Legal Counsel

Property Manager

Real Estate Manager

Bank Manager

Mortgage Officer

Credit Officer

Real Estate Developer

Corporate Secretary

Compliance Officer

Legal Manager

Property Development Director

Land Registration Officer

Title Examiner

Real Estate Attorney

Finance Manager

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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