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Deed of Release of Debt — Word & PDF Template
A deed for a lender releasing a borrower from all or part of a loan or other debt, dealing with unpaid interest, security and guarantees, tax and execution by individuals or companies.
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This deed of release of debt template is for a lender, whether a person or a company, who releases a borrower from all or part of a loan or other debt. It records the debt, the amount released, what happens to unpaid interest and any security or guarantee, and is signed as a deed.
Who is this template for?
It suits family members writing off a loan, companies releasing a loan to a director or shareholder, and any lender forgiving some or all of a debt. As the document itself states, it is not for writing off a debt within a formal insolvency procedure, which follows its own process.
What does the template include?
The deed is made up of numbered sections:
- Parties — the lender and the borrower, each a person or a company, and the date of the deed.
- The Debt — the loan agreement or how the debt arose, the amount originally lent, the balance, unpaid interest and the interest rate.
- The Release — the release date, a tick-one choice of whole or part release, any change to repayments for the rest, and an optional payment for the release.
- Interest — a tick-one choice of whether unpaid interest is released or remains payable.
- Security and Guarantees — any security or guarantee, a tick-one choice of full release or continuing for the rest, and filing the release at HM Land Registry or Companies House.
- Effect of the Release — the lender will not claim the released amount or transfer the right to it, and nothing already paid is repaid.
- Tax — a note that a release can have tax consequences and that each party takes its own advice.
- General — entire agreement, changes in writing and governing law of England and Wales.
- Execution — signature blocks for the lender and the borrower, each with a witness or second signatory for a company, and a guarantor’s confirmation where a guarantee continues.
Easy to customise
The template opens in Microsoft Word, Google Docs and LibreOffice. Fill in the highlighted fields, enter the debt figures, tick the release, interest and security options and edit any clause to suit your arrangement.
Format and scope
Download instantly as an editable Word (.docx) file and a PDF, formatted to A4. Written in plain British English and drafted for use in England and Wales.
How to edit the template
- Download the DOCX file after purchase
- Open it in Word, Google Docs, LibreOffice or another DOCX editor
- Fill in the parties' details in the marked fields
- Edit the terms and text to match what has been agreed
- Print it for signing or send it digitally
