The Release of Memorandum of Agreement is a document that states the original purchase agreement (and its corresponding memorandum) is no longer valid or enforceable.
The release should include: Names of the parties involved (both the buyer and seller). Property description (legal description and address). Recording information from the original memorandum (such as the recording number, date of recording, and where it was recorded). A statement that the memorandum of the purchase agreement is released, and the purchase agreement is no longer effective.
Signatures of the parties involved (at least the vendor/seller, but preferably both the buyer and seller, unless otherwise stipulated).

Sign the Release
Typically, both parties (the buyer and seller) should sign the release document.
However, if the agreement or specific circumstances allow for only the seller to sign the release, ensure this is explicitly permitted in the purchase agreement.
The signatures may need to be notarized to make the release effective for recording. Ensure each party signs in front of a notary public, who will then notarize the document.

Notarization
The release must be notarized to be legally recognized and recorded. Notarization confirms the identity of the signers and the authenticity of their signatures.
Each party (or just the seller, if applicable) should sign the release in front of a notary public who will complete the notarial acknowledgment.

Record the Release Document
Once the document is signed and notarized, it needs to be recorded with the County Clerk and Recorder's Office in the county where the property is located.

Recording the release is essential to formally remove the memorandum from the public record and clear the property's title.

Back to Colorado