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Deed Of Partial Release

Deed Of Partial Release Template for South Africa

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Key Requirements PROMPT example:

Deed Of Partial Release

"I need a Deed of Partial Release to release 5 residential units from our development project's mortgage bond, where ABC Bank holds security over the entire apartment complex in Cape Town, with the release to take effect from March 2025."

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Document background
The Deed of Partial Release is essential in South African property transactions where portions of secured property need to be released from existing bonds or security arrangements. This document is commonly used in property development scenarios, subdivision of land, or when selling portions of bonded property. It must comply with the strict requirements of the South African Deeds Registries Act and include precise legal descriptions of both the released and retained properties. The Deed of Partial Release serves to formally document the security holder's consent to release specific assets while preserving their security rights over the remaining property. This document is particularly important in commercial and residential development projects where properties are developed and sold in phases, requiring sequential releases from the original security.
Suggested Sections

1. Parties: Full legal names and details of the Mortgagor/Grantor and Mortgagee/Security Holder

2. Background: Details of the original bond/security document, including registration date and number, and the reason for partial release

3. Definitions: Define key terms including 'Original Bond', 'Released Property', 'Remaining Property', and other relevant terms

4. Original Security Details: Specific details of the original security/bond document, including the full amount secured

5. Release Declaration: Formal declaration of the partial release, specifically identifying what is being released

6. Property Description: Detailed legal description of the property/assets being released and the property/assets remaining under security

7. Continuing Security: Confirmation that the security remains in full force over the remaining property/assets

8. Warranties: Warranties by both parties regarding their authority to enter into the partial release

9. Execution: Formal execution clause meeting Deeds Office requirements

Optional Sections

1. Consideration: Include when there is a payment or other consideration for the partial release

2. Conditions Precedent: Include when the partial release is subject to fulfillment of specific conditions

3. Consent of Other Parties: Include when third-party consents are required (e.g., other bondholders)

4. Cost Allocation: Include when there needs to be specific agreement on who bears the costs of registration

5. Partial Release Amount: Include when there is a specific reduction in the secured amount

Suggested Schedules

1. Schedule 1 - Released Property: Detailed legal description and/or diagrams of the property/assets being released

2. Schedule 2 - Remaining Property: Detailed legal description and/or diagrams of the property/assets remaining under security

3. Schedule 3 - Original Bond: Copy or extract of the relevant portions of the original bond/security document

4. Appendix A - Property Diagrams: Surveyor's diagrams or plans where required for property descriptions

5. Appendix B - Consents: Copies of any required third-party consents

Authors

Alex Denne

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

alex.den.21@genieai.co
Relevant legal definitions

























Clauses




















Relevant Industries

Banking & Financial Services

Real Estate & Property

Construction & Development

Legal Services

Agriculture (for farm portions)

Mining & Resources

Commercial Property

Industrial Property

Residential Property Development

Relevant Teams

Legal

Property Finance

Credit Risk

Real Estate

Corporate Finance

Mortgage Operations

Property Development

Conveyancing

Securities Administration

Risk Management

Relevant Roles

Property Lawyer

Conveyancer

Bank Manager

Credit Manager

Property Developer

Real Estate Manager

Legal Counsel

Mortgage Officer

Commercial Property Manager

Development Manager

Risk Manager

Company Secretary

Bond Registration Officer

Property Finance Specialist

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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