I reached out to them and still they never responded.Our condo association insurance company offered me a  very small amount and said that they would like that I sign the release so that I won't go after the condo association insurance but that I can go after the Property Management company  Errors and Omissions insurance for the property manager's (at that time - he is gone now) negligence.My question is:  What is the most effective way of approaching this?

@Jim JackI use the following:Seller and me: I sign a letter of intent to lease and option, a lease, an option, I record the optionTBer and me: Earnest Money Agreement for half of Option Fee, TBer inspects property and gets other half of option money plus 1st and last months rent into escrowA new lease and option is created, TBer and Seller sign it, an option release doc is signed, sale and purchase is signed without dates kept in escrow. 

Your goal - and their responsibility - is to ensure you collect 100% of the funds and the terms of the lease are 100% fulfilled.By the by, just because Tenant B moves out doesn't mean they are released from all obligations.

I'm trying to figure out if I could purchase this dept at a discounted rate (since its so old) as a step to releasing there claim to the title.Very new to this but but I'm finding this all very interesting an I am super thankful for any all replies!

It still carries a mortgage, ( but home with the new lot line still with good substantial equity)Plan A: Has any one on here done a partial release interest with the bank/ success story /negotiating terms ? 

This allows you to get all your funds back especially if the PML/HML does a collateral assignment for your down payment and releases this "collateral," back to you when you refinance / "take out," the PML/HML loan.

I've traditionally always received funds into a single account and then transferred them to where they need to go.Low an behold though, I just read on the Rentec Direct blog that they released multiple deposit accounts very recently. 

I don't know of too many cities that use it aggressively to make streets look like Celebration. 

TBer - Show house (if you are licensed do it yourself, if not use a lic person then pay a fee of 1 mo rent to licensed property mgmt person), I get 3% for Option Release Fee, check made out to escrow co, $100 for option payment, use an option release fee agreement for Buyer and Seller.3.

Make sure if you follow through to get the lien released from the property that you have a notarized release of lien and submit it to the county so that it is on public record.