Dictionary of Real Estate Terms: deed of release
deed of release
a document, in the form of a deed, in which one who has limited rights to a piece of real estate (usually a mortgagee or lienholder) abandons those rights back to the owner of the real estate; often takes the form of a quitclaim deed.
Example: Morgan holds the mortgage on Fillmore's land. Fillmore wishes to sell part of the land. In return for Fillmore paying down the mortgage loan by an agreed amount, Morgan gives Fillmore a deed of release to the part to be sold, so that Fillmore can transfer clear title to the buyer.
