Louisiana § RS 9:5173.1 - Mortgage or privilege partial cancellation by financial institution; standard form

§ RS 9:5173.1. Mortgage or privilege partial cancellation by financial institution; standard form

            A financial institution seeking a partial cancellation of a mortgage or privilege inscription pursuant to R.S. 9:5172 may use, and the recorder of mortgages for each and every parish in the state of Louisiana shall accept, the following form as fully compliant as a request for partial cancellation and act of partial release. The form contained in this Section is not the exclusive form to be accepted for filing, and any other form meeting the requirements of R.S. 9:5172 may be used and filed to partially cancel the recordation of a mortgage or privilege:

REQUEST FOR PARTIAL CANCELLATION OF MORTGAGE OR PRIVILEGE

AND PARTIAL RELEASE BY LICENSED FINANCIAL INSTITUTION

PURSUANT TO R.S. 9:5172

            State of ____________________

            Parish or County of ______________________

            BE IT KNOWN THAT on this ____day___________of 20____, _________________ (name of financial institution), herein represented by its undersigned duly authorized officer or officers, declares the following:

            The institution is a licensed financial institution as defined in R.S. 9:5172 et seq., and is the obligee or authorized agent of the obligee for the obligation secured by the mortgage or privilege described as follows:

            A mortgage or privilege granted by:_________

            In favor of: _____

            Date of Instrument: _____

            Parish of Recordation: _____

            Recording Data: _____

            The institution grants a partial release of the above-described mortgage or privilege, and does hereby release ONLY the following described property from the above-described mortgage or privilege, to wit:

            Legal description of released property is as follows or is hereby attached as Exhibit "A":

__________________________________________________________________

__________________________________________________________________

__________________________________________________________________

            The institution hereby requests, authorizes, and directs the Clerk of Court and Ex-Officio Recorder of Mortgages for the Parish in which the above-described property is situated to release the above-described property from the mortgage or privilege described above and to partially cancel the above-described mortgage or privilege ONLY AS TO such described property hereby released from the same.

            The institution further expressly declares that the above-described mortgage or privilege is not released or cancelled as to any other property described in such mortgage or privilege, and such mortgage or privilege shall continue to encumber and remain in full force and effect as to all other property described therein.

            The recorder of mortgages shall not be liable for any damages resulting to any person or entity as a consequence of partially cancelling a mortgage or vendor's privilege pursuant to this form.

[Choose one of the two following signature options.]

            THUS DONE AND SIGNED, before me, Notary Public, on the date set forth above.

                        ________________________________________________

            Name of officer and title

            Name of financial institution

            Requested mailing address

            City, state, and zip code

__________________________________

Notary Public

(Printed name of notary and bar roll or notary number)

            THUS DONE AND SIGNED, by the two undersigned authorized officers of the above named financial institution on the date set forth above.

                        ________________________________________________

            Name of officer and title

            Name of financial institution

            Requested mailing address

            City, state, and zip code

                        ________________________________________________

            Name of officer and title

            Name of financial institution

            Requested mailing address

            City, state, and zip code

            Acts 2017, No. 62, §1.