Substitution of Collateral and Release Consent

How To Use

This substitution of collateral document is a standard form to replace collateral due to a need by the debtor to sell the collateral.

This review list is provided to inform you about this document in question and assist you in its preparation.

  • Make multiple copies.¬†Give one copy to each party.¬† Keep copies in the related files.

Substitution of Collateral and Release Consent

__________________________, referred to as OWNER, and __________________________, referred to as SECURED PARTY, agree:

OWNER is indebted to SECURED PARTY pursuant to a note dated, _________________, in the original principal amount of $_________