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 $_________