Deed of Release: security

Deed of Release of security given by a company, in the form of a Deed executed by the company which has granted the charge (chargor) and the beneficiary of the charge (chargee).  It is suitable where the chargor is a company incorporated in England and Wales

Use this document:

• for the full release of a debenture or other charge granted by a company
• for a company which is incorporated in England and Wales

Key features include:

• 8 clauses over 3 pages
• in the form of a Deed to be executed by both chargor and chargee
• wording for release of the charge and the property over which security has been granted
• warranties from the chargor and chargee

About this document

A company (the chargor) may have granted security for its obligations under a contract, and in particular a loan agreement.  The security could take the form of a charge over specific property of the chargor or a debenture constituting fixed charges and a floating charge over all of the chargor’s assets and undertaking.

Once the secured obligations have been discharged, the company has granted security (the chargor) should obtain a formal release of the security from the beneficiary of the security (the chargee).

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