Q: How do we get the name of a financial lender off of the deed when the property is paid.
Our church bought 4 pieces of property. The first two we got financing on our own. The next two we got financed through a larger church organization that absorbed the first note and spotted us the money for the next two. We have since paid the loan off in full but the deed lists us and the other church.
A:
The lender will need to release it's claim. The type of security that was provided for the loan will determine the type of filing that needs to occur to release the claim.
This is likely a valuable property and worthy of retaining an attorney to ensure that the Church has full and complete ownership.
1 user found this answer helpful
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
