Release deposit

Release deposit – within the area of Litigation Procedures, this legal term details a sum of money, given to the bailiff to release legal burden on a property. The role of this deposit is to clear actually the legal status of the real estate of the debtor, as if the debt never occurred. For example, a third party pays to the bailiff the due mortgage loan on behalf of the debtor. Then the bailiff removes the burden and the mortgage. In such case the third party which paid to creditors or to the bailiff, has the right of a regress claim against the debtor.

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