Arizona 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 Partial Release of Mortgage / Deed of Trust on a Mineral / Royalty Interest Sold by Granter is a legal document used in Arizona when the owner of a mortgage or deed of trust on a mineral or royalty interest wishes to release a portion of that interest. This can occur when the owner has sold a portion of the interest to another party. The purpose of this document is to release the lien on the portion of the mineral or royalty interest that has been sold, allowing the new owner to have clear title to that portion. It is important to note that this document only pertains to the mineral or royalty interest and does not release the entire mortgage or deed of trust. There are a few different types of partial releases that can be used in Arizona depending on the specific circumstances: 1. Partial Release of Mortgage on Mineral / Royalty Interest: This type of release is used when the owner of a mortgage wishes to release a portion of the interest to a new owner. It is important to specify the exact portion being released, including any legal descriptions or other identifying information. 2. Partial Release of Deed of Trust on Mineral / Royalty Interest: Similar to a mortgage, a deed of trust can also be partially released. This type of release is used when the owner of a deed of trust wishes to release a portion of the interest to a new owner. Again, it is crucial to clearly describe the portion being released. The information required in an Arizona Partial Release of Mortgage / Deed of Trust on a Mineral / Royalty Interest Sold by Granter may include: — The full legal names and contact information of the granter (original owner of the mortgage or deed of trust) and the grantee (new owner of the released portion). — A description of the property or interest being released, including any legal descriptions or other identifying information. — The amount or percentage of the interest being released. — The date of the original mortgage or deed of trust. — Any other terms or conditions related to the release. It is essential to consult with a qualified attorney or real estate professional when drafting or executing a Partial Release of Mortgage / Deed of Trust on a Mineral / Royalty Interest Sold by Granter in Arizona to ensure compliance with state laws and to protect all parties involved.

A Partial Release of Mortgage / Deed of Trust on a Mineral / Royalty Interest Sold by Granter is a legal document used in Arizona when the owner of a mortgage or deed of trust on a mineral or royalty interest wishes to release a portion of that interest. This can occur when the owner has sold a portion of the interest to another party. The purpose of this document is to release the lien on the portion of the mineral or royalty interest that has been sold, allowing the new owner to have clear title to that portion. It is important to note that this document only pertains to the mineral or royalty interest and does not release the entire mortgage or deed of trust. There are a few different types of partial releases that can be used in Arizona depending on the specific circumstances: 1. Partial Release of Mortgage on Mineral / Royalty Interest: This type of release is used when the owner of a mortgage wishes to release a portion of the interest to a new owner. It is important to specify the exact portion being released, including any legal descriptions or other identifying information. 2. Partial Release of Deed of Trust on Mineral / Royalty Interest: Similar to a mortgage, a deed of trust can also be partially released. This type of release is used when the owner of a deed of trust wishes to release a portion of the interest to a new owner. Again, it is crucial to clearly describe the portion being released. The information required in an Arizona Partial Release of Mortgage / Deed of Trust on a Mineral / Royalty Interest Sold by Granter may include: — The full legal names and contact information of the granter (original owner of the mortgage or deed of trust) and the grantee (new owner of the released portion). — A description of the property or interest being released, including any legal descriptions or other identifying information. — The amount or percentage of the interest being released. — The date of the original mortgage or deed of trust. — Any other terms or conditions related to the release. It is essential to consult with a qualified attorney or real estate professional when drafting or executing a Partial Release of Mortgage / Deed of Trust on a Mineral / Royalty Interest Sold by Granter in Arizona to ensure compliance with state laws and to protect all parties involved.