All You Need to Know About Bond Release

Wondering what bond release really means and how it affects you? When a bond is released, it usually refers to the official lifting or cancellation of a financial security or mortgage bond on a property. This can happen when the loan secured by the bond is fully paid off or under certain court orders.

Bond releases often involve banks, legal bodies, or government agencies confirming that the liabilities tied to the bond are clear. For homeowners, this means their property is fully free of the bond, allowing them to sell or refinance without hurdles.

Why Bond Release Matters

Without a proper bond release, your property might still show a claim from the lender, causing problems in ownership transfer or new purchase loans. If you’re trying to sell a property, the buyer’s bank will usually ask for proof that the bond is no longer active.

Bond releases aren't just for paid off mortgages. Sometimes, in legal disputes or settlements, courts order bonds to be released or adjusted. Staying informed on these decisions can protect your financial interests and speed up transactions.

How to Check Bond Release Status

To check if a bond release is in place, you can request documentation from your mortgage provider or check public records online if available in your area. Being proactive helps avoid surprises when selling or buying property.

At Everard Read Daily News, we keep you updated with the latest information related to bond releases including legal news and finance tips. Bookmark this tag page to stay current on developments that might impact your home or investment.

Barend Wilken 8 June 2024 0

JKUAT Student Released on Sh700,000 Bond Over Alleged Assault on Police Officer During Tuition Fee Protests

Brian Kipyegon, a student at the Jomo Kenyatta University of Agriculture and Technology (JKUAT), has been released on a Sh700,000 bond after being accused of assaulting a police officer during a protest against increased tuition fees. The court set the hearing for July 11, 2024.

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