Florida Subordination of Mortgage / Deed of Trust to Oil and Gas Lease with Bonus and Royalty Payments to Go to Lessor Until Notice from Lienholder

• Category: Oil Gas and Minerals - Subordination
• State: Multi-State
• Control #: US-OG-142
• Format: Word; Rich Text

Description

This form provides for a lienholder to subordinate its lien, created by a mortgage or deed of trust, to an existing oil and gas lease, and directs the bonus and rental payments provided for in the lease to be delivered to the lessor until notified by the lienholder. A Florida Subordination of Mortgage/Deed of Trust to an Oil and Gas Lease with Bonus and Royalty Payments to Go to the Lessor Until Notice from the Lien holder is a legal document that establishes the hierarchy of priority between a mortgage or deed of trust and an oil and gas lease in Florida. This type of subordination agreement ensures that the lessor, who holds the mineral rights, receives the bonus and royalty payments before the lien holder can make any claims on them. The document outlines the terms and conditions under which the lien holder will be notified and allows the lessor to retain control over the oil and gas lease until then. In Florida, there are different variations of this subordination agreement, each tailored to specific circumstances or parties involved. Some of these variations may include: 1. Residential Subordination of Mortgage to Oil and Gas Lease: This type of subordination agreement specifically applies to residential properties where the mortgage or deed of trust is being subordinated to an oil and gas lease. It ensures that the lessor receives the bonus and royalty payments before the lien holder can assert any rights over them. 2. Commercial Subordination of Mortgage to Oil and Gas Lease: This variation is designed for commercial properties and follows similar principles as the residential subordination agreement. It establishes the priority of the oil and gas lease over the mortgage or deed of trust. 3. Subordination of Deed of Trust to Oil and Gas Lease with Bonus and Royalty Payments: This version applies specifically to cases where a deed of trust, rather than a mortgage, is involved. It outlines the subordination of the deed of trust to the oil and gas lease, ensuring that the lessor receives the bonus and royalty payments until notice is given to the lien holder. 4. Partial Subordination of Mortgage/Deed of Trust to Oil and Gas Lease: In some cases, the subordination agreement may only partially prioritize the oil and gas lease over the mortgage or deed of trust. This means that certain conditions or payments outlined in the oil and gas lease will take precedence while others may still be subject to the lien holder's rights. It is important to consult with legal professionals well-versed in Florida real estate law and oil and gas leasing agreements to ensure that the subordination agreement accurately reflects the intentions and protects the interests of all parties involved.

A Florida Subordination of Mortgage/Deed of Trust to an Oil and Gas Lease with Bonus and Royalty Payments to Go to the Lessor Until Notice from the Lien holder is a legal document that establishes the hierarchy of priority between a mortgage or deed of trust and an oil and gas lease in Florida. This type of subordination agreement ensures that the lessor, who holds the mineral rights, receives the bonus and royalty payments before the lien holder can make any claims on them. The document outlines the terms and conditions under which the lien holder will be notified and allows the lessor to retain control over the oil and gas lease until then. In Florida, there are different variations of this subordination agreement, each tailored to specific circumstances or parties involved. Some of these variations may include: 1. Residential Subordination of Mortgage to Oil and Gas Lease: This type of subordination agreement specifically applies to residential properties where the mortgage or deed of trust is being subordinated to an oil and gas lease. It ensures that the lessor receives the bonus and royalty payments before the lien holder can assert any rights over them. 2. Commercial Subordination of Mortgage to Oil and Gas Lease: This variation is designed for commercial properties and follows similar principles as the residential subordination agreement. It establishes the priority of the oil and gas lease over the mortgage or deed of trust. 3. Subordination of Deed of Trust to Oil and Gas Lease with Bonus and Royalty Payments: This version applies specifically to cases where a deed of trust, rather than a mortgage, is involved. It outlines the subordination of the deed of trust to the oil and gas lease, ensuring that the lessor receives the bonus and royalty payments until notice is given to the lien holder. 4. Partial Subordination of Mortgage/Deed of Trust to Oil and Gas Lease: In some cases, the subordination agreement may only partially prioritize the oil and gas lease over the mortgage or deed of trust. This means that certain conditions or payments outlined in the oil and gas lease will take precedence while others may still be subject to the lien holder's rights. It is important to consult with legal professionals well-versed in Florida real estate law and oil and gas leasing agreements to ensure that the subordination agreement accurately reflects the intentions and protects the interests of all parties involved.