Virgin Islands Partial Release of Mortgage / Deed of Trust on A Mineral / Royalty Interest Sold by Grantor

• Category: Oil Gas and Minerals - Releases
• State: Multi-State
• Control #: US-OG-130
• Format: Word; Rich Text

Description

If an owner of a mineral or royalty interest, whose interest is subject to a mortgage/deed of trust, desires to sell or convey an interest, it is appropriate to obtain a release of that lien as to the interest conveyed. This form addresses that situation. A Virgin Islands Partial Release of Mortgage/Deed of Trust on a Mineral/Royalty Interest Sold by Granter is a legally binding document that pertains to the transfer of ownership or partial release of a specific portion of the mineral or royalty interest held as collateral against a mortgage or deed of trust. This document is frequently used in real estate transactions involving mineral rights or royalties in the Virgin Islands. When a granter sells a portion of their mineral or royalty interest, they may choose to release a partial amount of the collateral securing the mortgage or deed of trust they have on the property. This release frees up the transferred portion from being used as security, allowing the grantee to have clear ownership and control over the sold interest. This type of document is essential for both parties involved in the transaction as it clarifies the precise terms and conditions of the partial release. It outlines the specific mineral or royalty interest being sold, the percentage or amount being released, and any accompanying conditions or restrictions. Different types of the Virgin Islands Partial Release of Mortgage/Deed of Trust on a Mineral/Royalty Interest Sold by Granter can be classified based on their nature or extent. They may include: 1. Partial Release of Mortgage: This type of document specifies the release of a fractional or proportional portion of the mortgage held against the mineral or royalty interest. 2. Partial Release of Deed of Trust: Similarly, this document releases a specific percentage or portion of the deed of trust that was established as collateral against the mineral or royalty interest. The terms and provisions within these releases may vary depending on the agreement reached between the granter and grantee, making it necessary to carefully review the document before proceeding with any transactions.

A Virgin Islands Partial Release of Mortgage/Deed of Trust on a Mineral/Royalty Interest Sold by Granter is a legally binding document that pertains to the transfer of ownership or partial release of a specific portion of the mineral or royalty interest held as collateral against a mortgage or deed of trust. This document is frequently used in real estate transactions involving mineral rights or royalties in the Virgin Islands. When a granter sells a portion of their mineral or royalty interest, they may choose to release a partial amount of the collateral securing the mortgage or deed of trust they have on the property. This release frees up the transferred portion from being used as security, allowing the grantee to have clear ownership and control over the sold interest. This type of document is essential for both parties involved in the transaction as it clarifies the precise terms and conditions of the partial release. It outlines the specific mineral or royalty interest being sold, the percentage or amount being released, and any accompanying conditions or restrictions. Different types of the Virgin Islands Partial Release of Mortgage/Deed of Trust on a Mineral/Royalty Interest Sold by Granter can be classified based on their nature or extent. They may include: 1. Partial Release of Mortgage: This type of document specifies the release of a fractional or proportional portion of the mortgage held against the mineral or royalty interest. 2. Partial Release of Deed of Trust: Similarly, this document releases a specific percentage or portion of the deed of trust that was established as collateral against the mineral or royalty interest. The terms and provisions within these releases may vary depending on the agreement reached between the granter and grantee, making it necessary to carefully review the document before proceeding with any transactions.