Florida Partial Release of Lien on Assigned Overriding Royalty Interest

• Category: Oil Gas and Minerals - Releases
• State: Multi-State
• Control #: US-OG-406
• Format: Word; Rich Text

Description

This form of release is used when Lienholder releases, relinquishes, and surrenders to Mortgagor/ Grantor's Assignee all of Lienholder's rights, claims, and liens under the Mortgage/Deed of Trust in and to an undivided overriding royalty interest. A Florida Partial Release of Lien on Assigned Overriding Royalty Interest is a legal document that serves to release a portion of a lien placed on an assigned overriding royalty interest in the state of Florida. This release allows the property owner or the assignee of the overriding royalty interest to claim ownership of a specific portion of the property without the encumbrance of a lien. In Florida, there are several types of partial releases of lien on assigned overriding royalty interests that cater to different circumstances: 1. Specific Lien Release: This type of release is used when the property owner or assignee wants to release a specific portion of the assigned overriding royalty interest from the lien. It is useful when there are multiple parcels of land involved, and the releaser only wants to release one or a few of them. 2. Percentage Lien Release: This release is used when the lien holder wishes to release a certain percentage of the assigned overriding royalty interest from the lien. It allows for flexibility in situations where a specific portion cannot be identified, or when the assignment is based on percentages rather than specific parcels of land. 3. Time-Limited Lien Release: This release is used when the assignee or property owner wants to release the lien on the assigned overriding royalty interest for a specific period. It can be utilized when the lien holder and releaser agree to a temporary release, such as during certain development phases or until certain conditions are met. 4. Conditional Lien Release: This type of release is used when the partial lien release is subject to specific conditions being fulfilled. For example, the releaser may decide to release the lien on the assigned overriding royalty interest only after receiving a certain payment or completing a particular task. It is essential to adhere to the relevant legal requirements and guidelines when drafting and executing a Florida Partial Release of Lien on Assigned Overriding Royalty Interest. Consulting with legal professionals or using appropriate templates can ensure accuracy and compliance throughout the process.

A Florida Partial Release of Lien on Assigned Overriding Royalty Interest is a legal document that serves to release a portion of a lien placed on an assigned overriding royalty interest in the state of Florida. This release allows the property owner or the assignee of the overriding royalty interest to claim ownership of a specific portion of the property without the encumbrance of a lien. In Florida, there are several types of partial releases of lien on assigned overriding royalty interests that cater to different circumstances: 1. Specific Lien Release: This type of release is used when the property owner or assignee wants to release a specific portion of the assigned overriding royalty interest from the lien. It is useful when there are multiple parcels of land involved, and the releaser only wants to release one or a few of them. 2. Percentage Lien Release: This release is used when the lien holder wishes to release a certain percentage of the assigned overriding royalty interest from the lien. It allows for flexibility in situations where a specific portion cannot be identified, or when the assignment is based on percentages rather than specific parcels of land. 3. Time-Limited Lien Release: This release is used when the assignee or property owner wants to release the lien on the assigned overriding royalty interest for a specific period. It can be utilized when the lien holder and releaser agree to a temporary release, such as during certain development phases or until certain conditions are met. 4. Conditional Lien Release: This type of release is used when the partial lien release is subject to specific conditions being fulfilled. For example, the releaser may decide to release the lien on the assigned overriding royalty interest only after receiving a certain payment or completing a particular task. It is essential to adhere to the relevant legal requirements and guidelines when drafting and executing a Florida Partial Release of Lien on Assigned Overriding Royalty Interest. Consulting with legal professionals or using appropriate templates can ensure accuracy and compliance throughout the process.