Which type of mortgage covers multiple parcels and allows for partial release of legal title upon partial payment?

A blanket mortgage is designed to cover multiple parcels of real estate under a single mortgage agreement. This type of mortgage is particularly advantageous for developers or investors who own several pieces of property and wish to finance them together.

One notable feature of blanket mortgages is the ability for partial release. This means that as the borrower makes payments on the mortgage, they can obtain legal title to individual parcels of the property as they pay down certain amounts of the debt. This flexibility allows the borrower to sell or develop specific properties without needing to refinance the entire loan.

This mechanism is beneficial because it lowers the burden of having to manage separate loans for each parcel, while still providing the opportunity to liquidate assets or adjust portfolios over time. Other types of mortgages listed do not have similar provisions for covering multiple properties or allowing for the partial release of title upon payment.