Download Kansas Release of Assignment of Leases and Rents Legal Forms

The "Release of Assignment of Leases and Rents" is a legal document used to relinquish the interest of the assignee in the rents and leases of a property, often when the associated loan or mortgage is fully paid off. In the context of Kansas real estate, the document would typically include:

Title: Clearly stated as "Release of Assignment of Leases and Rents" to indicate its purpose.

Introductory Clause: Identifying the document as a release to an earlier "Assignment of Leases and Rents," referencing the original document by date and possibly by the book and page number where it was recorded.

Identification of Parties: Names and addresses of the assignor (the current holder of the mortgage or beneficiary) and the assignee (the party to whom the rents and leases were originally assigned).

Description of Real Estate: Legal description of the property in question, which may include the street address, legal description used in public records, and any identifying parcel numbers.

Declaration of Satisfaction: A statement that the mortgage or obligation which prompted the assignment of rents and leases has been fully satisfied or paid in full.

Execution by Holder: Signature of the mortgage holder or their authorized representative, asserting that the condition for the assignment has been fulfilled.

Notarization: A notary public's acknowledgment that the holder signed the release, including the date and the notary's official seal.

State Statutes: The document might reference specific Kansas statutes that govern the release of mortgage and assignments, such as Kansas Statutes Annotated (K.S.A.) Section 58-2309 which requires that a mortgagee must promptly file a release of mortgage upon the satisfaction of the mortgage.

Filing Information: Instructions for filing the release with the appropriate county's Register of Deeds in Kansas to ensure that it becomes a part of the public record.

The actual format and content may vary depending on the specific requirements of the county in Kansas where the property is located, as well as any specific terms that were part of the original loan or mortgage agreement. It is important to consult with a legal professional to ensure that the release complies with all applicable laws and fulfills the necessary legal formalities.

(Kansas Release of Assignment of Leases and Rents Package includes form, guidelines, and completed example)