Partial Lien Release Mortgage Template for England and Wales

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Key Requirements PROMPT example:

Partial Lien Release Mortgage

"I need a Partial Lien Release Mortgage to release a 2-acre portion of my 10-acre development site in Manchester from the existing mortgage with Barclays Bank, while maintaining the mortgage on the remaining 8 acres, with completion planned for March 2025."

Document background
A Partial Lien Release Mortgage is essential when property owners need to release specific portions of mortgaged property while maintaining the existing mortgage on the remaining portion. This document is particularly relevant in England and Wales, where it must comply with strict land registration requirements and property law. It details the released portion's description, remaining security, and terms of release. The document is commonly used in development projects, property subdivisions, or partial property sales, requiring careful consideration of the remaining security's value and the lender's interests.
Suggested Sections

1. Parties: Identification of mortgagor, mortgagee, and any other relevant parties

2. Background: Details of original mortgage, reason for partial release

3. Definitions: Key terms used in the document including references to relevant legislation (Law of Property Act 1925, Land Registration Act 2002, Financial Services and Markets Act 2000)

4. Property Description: Detailed description of property portion being released

5. Release Terms: Specific terms and conditions of the partial release

6. Remaining Security: Description of property remaining under mortgage

7. Execution: Signature blocks and attestation requirements

Optional Sections

1. Consideration: Details of any payment made for the release - include when payment is required for the partial release

2. Conditions Precedent: Conditions that must be met before release becomes effective - include when specific conditions must be satisfied before release

3. Representations and Warranties: Statements of fact by parties - include when additional assurances are required

Suggested Schedules

1. Property Plan: Plans showing released portion and retained portion

2. Original Mortgage Details: Copy or summary of original mortgage agreement

3. Land Registry Compliance Schedule: Forms and requirements for registration

4. Title Information: Relevant title information and numbers

Authors

Alex Denne

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

Relevant Industries
Relevant Teams
Relevant Roles
Industries

Law of Property Act 1925: Primary legislation governing property law in England and Wales, particularly sections dealing with mortgages, charges, and requirements for legal charges and their release

Land Registration Act 2002: Key legislation covering requirements for registration of charges, process for removing or modifying registered charges, and priority rules

Financial Services and Markets Act 2000: Establishes regulatory framework for mortgage lenders and consumer protection provisions

Land Registration Rules 2003: Secondary legislation detailing procedural requirements for registering and releasing charges, including required forms and documentation

Financial Services and Markets Act 2000 (Regulated Activities) Order 2001: Secondary legislation specifically regulating mortgage activities

FCA Regulations: Regulatory requirements including mortgage conduct of business rules and fair treatment of customers requirements

HM Land Registry Requirements: Practical requirements and procedures for registering and releasing charges as specified by the Land Registry

Common Law Principles: Relevant case law and precedents regarding partial releases of mortgages and liens

Equitable Principles: Principles of equity affecting mortgage relationships and partial releases

Professional Standards: Best practices and professional conduct requirements for handling mortgage releases

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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