A Deed of Release for Security/Charge (Partial Release) is a legal document that protects property interests and provides asset protection for Security Providers. The document is executed between the Financier, Security Provider, and Continuing Security Provider, and includes definitions of key terms, including Security and Secured Property. The release contained in this deed frees the Security Provider from all liability under the Security and reassigns the Secured Property to the Security Provider.

This deed preserves the rights and obligations of any person not a party to this deed, and it does not affect the obligations of the Security Provider or the rights of the Financier in respect of any property other than the Secured Property. The Continuing Security Provider consents to the release and agrees that nothing in this deed affects its obligations to the Financier or the rights of the Financier in respect of any property of the Continuing Security Provider.

The Deed of Release for Security/Charge (Partial Release) is governed by the jurisdiction clause, and third-party rights are not enforceable. The Financier agrees to deliver all title documents held by it in respect of the Secured Property and do anything reasonably required by the Security Provider to give full effect to this deed.

Overall, the Deed of Release for Security/Charge (Partial Release) provides financial security and protects assets. The document is essential for parties who want to release a portion of their security or collateral, and it helps in preserving their rights and obligations. This legal document is suitable for firms, companies, and corporations who want to protect their financial interests and assets.

How to use this Document?

If you need to use a Deed of Release (Partial Release) document between parties, here are the steps you should follow to use this document effectively:

1. Interpretation: Before starting, ensure you understand the meaning of the different terms used in the document.

2. Release: The Financier releases the Security Provider from all liability under the Security. The Financier reassigns the Secured Property to the Security Provider.

3. Preservation of Obligations and Rights: The release contained in this deed does not affect the rights or obligations of any person not a party to this deed. Also, nothing in this deed affects the obligations of the Security Provider or rights of the Financier in respect of any property other than the Secured Property.

4. Continuing Security Provider: The Continuing Security Provider must consent to the release contained in this deed. The Continuing Security Provider agrees that nothing in this deed affects its obligations to the Financier or the rights of the Financier in respect of any property of the Continuing Security Provider.

5. Third Party Rights: This deed is binding only on the parties who have signed it. No person who is not a party to this deed has any rights to enforce any term of this deed.

6. Governing Law: The deed must specify the jurisdiction that will govern the interpretation of the document.

7. Further steps: The Financier must deliver all title documents to the Security Provider and do anything reasonably required by the Security Provider to give full effect to this deed.

To effectively use this Deed of Release (Partial Release), the document should be carefully read by all parties involved. Once the parties understand the document, they should sign and return a copy. Both parties should keep a copy for future reference. To avoid any future disputes, both parties may wish to have their signatures witnessed. If either party wishes to amend the agreement in the future, they should agree to do so in writing, and the original agreement and amendments should be recorded in writing and signed by both parties.

The release from liability and preservation of rights should all be clearly stated in the document to avoid any future misunderstandings. This document is specifically drafted from a Security Provider's perspective, and it's essential to ensure that all parties understand the terms and conditions outlined in the document.