This means the escrow deposit is released from escrow to seller and cannot be returned (unless seller commits fraud).

Don't release either of them from their obligations and get a forwarding address in case you need to hunt them down.

Just be careful with these because if you decide to refi or sell one of the properties you may have to sell or refi all of them because many lenders do not do partial releases. 

Roughly 90 million gallons of reclaimed water is released daily into the Las Vegas Wash, replenishing Lake Mead with billions of gallons every year. 

You paid it off and now own the property with the first mortgage still in place.This lender will expect to be paid in full to release it.

@Matt Arden When you do find a lender, make sure check whether they will allow for partial release of properties, in the event you want to sell one or several.

It is called partial release.

One thing to look out that differs from doing individual loan is the partial release terms.

For portfolio loan, taking one out is easy, just do a partial release.

What would it look like for you to use a bank loan intended for rehab projects to purchase the property from them at their debt-release price and then let the bank's loan product fund the rehab?