This template gives you everything you need for a professional, customizable and legally binding Release Lien Partial Agreement.
It releases the lien from part of the property while keeping it on the rest. Common in construction projects where you want to free up completed portions of property while work continues on other areas.
File it with the same office where the original lien was recorded. The release should clearly describe which portion of the property is being released and which portion still secures the debt.
Not necessarily. The debt might remain the same, but now it's only secured by the portion of property not released. The release should clarify whether any debt is being forgiven.