It would be customary for a developer to deliver only partial discharges of a development mortgage to purchasers of homes on residential building lots.

Question

Quizplus · Accepted Answer

Partial discharges of a development mortgage are common when a developer sells individual lots or homes within a larger development. This allows the purchaser to obtain clear title to their specific property, while the developer retains the mortgage on the remaining unsold portions of the development.

It Would Be Customary for a Developer to Deliver Only