Document background
The Partial Lien Release Mortgage is a crucial document in Indian real estate and banking transactions, commonly used when a property owner needs to release a portion of mortgaged property for sale, development, or other purposes while maintaining the mortgage on the remaining portion. This document becomes necessary in scenarios such as partial property sales, development projects, or family property divisions. The document must comply with various Indian legislations including the Transfer of Property Act, 1882, Registration Act, 1908, and relevant state laws. It typically includes detailed descriptions of both the released and remaining portions, terms of release, and confirmation of continuing security interest. The document requires careful drafting to ensure proper protection of both mortgagor's and mortgagee's interests, along with necessary registrations and stamp duty payments.
