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Home Financing Document Release Form Template for Saudi Arabia

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Key Requirements PROMPT example:

Home Financing Documents Release Form

"I need a Home Financing Documents Release Form for a residential property in Riyadh that was fully paid off on January 15, 2025, ensuring compliance with SAMA regulations and including provisions for the release of all original property documentation."

Document background
The Home Financing Documents Release Form is a crucial document used in Saudi Arabian financial transactions when a customer has fully satisfied their home financing obligations. This document is essential in Islamic banking practices and is required by Saudi Arabian law to formally release security interests over property following complete repayment. It serves multiple purposes: confirming the discharge of the customer's financial obligations, authorizing the release of original property documentation, and providing evidence that the property is unencumbered for future transactions. The form must comply with both Shariah principles and Saudi Arabian banking regulations, particularly those established by the Saudi Arabian Monetary Authority (SAMA). This document is typically issued by financial institutions upon receiving the final payment and is required for updating property records with relevant government authorities.
Suggested Sections

1. Header Information: Financial institution's letterhead, reference numbers, date, and document title

2. Addressee Details: Complete name and address of the borrower/customer

3. Property Details: Full legal description and address of the financed property

4. Financing Reference: Original financing agreement details including date, reference number, and original financing amount

5. Confirmation of Payment: Declaration confirming full settlement of all obligations under the financing agreement

6. Release Statement: Formal statement releasing all claims, charges, and security interests over the property

7. Document Release List: Itemized list of all original documents being released to the customer

8. Authorization: Statement of authority under which the release is being made

9. Execution Block: Signature blocks for authorized bank signatory and customer acknowledgment

Optional Sections

1. Co-Borrower Details: Additional section for cases involving multiple borrowers

2. Power of Attorney Reference: Required when document is being executed through a legal representative

3. Outstanding Obligations: Section detailing any remaining administrative obligations or procedures

4. Government Entity Instructions: Specific instructions for relevant government departments regarding mortgage release

5. Shariah Approval Reference: Reference to Shariah approval where specifically required by the financing institution

Suggested Schedules

1. Document Checklist: Detailed list of all documents being released with reference numbers

2. Property Title Details: Certified copy of property ownership details and registration information

3. Payment Confirmation: Copy of final payment receipt or bank confirmation of full settlement

4. Authorization Documents: Copies of corporate or power of attorney authorizations if applicable

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

Relevant legal definitions




























Clauses


















Relevant Industries

Banking

Islamic Finance

Real Estate

Legal Services

Financial Services

Property Development

Mortgage Services

Housing Finance

Relevant Teams

Legal

Mortgage Operations

Islamic Banking

Compliance

Property Registration

Banking Operations

Document Control

Real Estate Finance

Customer Service

Risk Management

Shariah Compliance

Credit Administration

Relevant Roles

Legal Counsel

Mortgage Officer

Islamic Finance Specialist

Compliance Officer

Property Registration Officer

Banking Operations Manager

Document Control Officer

Real Estate Finance Manager

Customer Service Representative

Risk Management Officer

Shariah Compliance Officer

Credit Administration 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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