Georgia 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 Georgia Partial Release of Mortgage / Deed of Trust on A Mineral / Royalty Interest Sold by Granter is a legal document that releases a specific portion of a mortgage or deed of trust that is encumbering the granter's mineral or royalty interest. This type of release is applicable in situations where the granter has sold a portion of their mineral or royalty interest to another party. The purpose of a Georgia Partial Release of Mortgage / Deed of Trust on A Mineral / Royalty Interest Sold by Granter is to ensure that the granter's remaining mineral or royalty interest is no longer encumbered by the mortgage or deed of trust in relation to the part that has been sold. Without this release, the mortgage or deed of trust would continue to affect the full interest, hindering the granter's ability to fully utilize or transfer the remaining share. By executing a Georgia Partial Release of Mortgage / Deed of Trust on A Mineral / Royalty Interest Sold by Granter, the granter and the mortgage or deed of trust holder acknowledge the sale of a specific portion of the interest. This release effectively removes the encumbrance on the sold portion, allowing the granter to retain full control and ownership of the remaining portion. Different types of Georgia Partial Release of Mortgage / Deed of Trust on A Mineral / Royalty Interest Sold by Granter may include: 1. Partial Release on a Percentage Interest Sold: This type of release pertains to situations where the granter has sold a specific percentage of their mineral or royalty interest. The release is calculated based on the exact percentage sold, ensuring that only the sold percentage is released from the mortgage or deed of trust. 2. Partial Release on a Fractional Interest Sold: In cases where the granter has sold a fractional interest (e.g., 1/16, 1/8, etc.) of their mineral or royalty interest, this type of release is applicable. It releases the specific fraction that has been sold, leaving the remaining fractional interest unaffected by the mortgage or deed of trust. 3. Partial Release on a Specific Tract or Parcel Sold: This release applies when the granter has sold a specific tract or parcel containing their mineral or royalty interest. The release is limited to the sold tract or parcel, ensuring that the remaining tracts or parcels are no longer encumbered by the mortgage or deed of trust. In conclusion, a Georgia Partial Release of Mortgage / Deed of Trust on A Mineral / Royalty Interest Sold by Granter is a critical legal document that ensures the proper release of a portion of a mortgage or deed of trust encumbering the granter's mineral or royalty interest. Different types of releases may include releases on a percentage interest sold, a fractional interest sold, or a specific tract or parcel sold.

A Georgia Partial Release of Mortgage / Deed of Trust on A Mineral / Royalty Interest Sold by Granter is a legal document that releases a specific portion of a mortgage or deed of trust that is encumbering the granter's mineral or royalty interest. This type of release is applicable in situations where the granter has sold a portion of their mineral or royalty interest to another party. The purpose of a Georgia Partial Release of Mortgage / Deed of Trust on A Mineral / Royalty Interest Sold by Granter is to ensure that the granter's remaining mineral or royalty interest is no longer encumbered by the mortgage or deed of trust in relation to the part that has been sold. Without this release, the mortgage or deed of trust would continue to affect the full interest, hindering the granter's ability to fully utilize or transfer the remaining share. By executing a Georgia Partial Release of Mortgage / Deed of Trust on A Mineral / Royalty Interest Sold by Granter, the granter and the mortgage or deed of trust holder acknowledge the sale of a specific portion of the interest. This release effectively removes the encumbrance on the sold portion, allowing the granter to retain full control and ownership of the remaining portion. Different types of Georgia Partial Release of Mortgage / Deed of Trust on A Mineral / Royalty Interest Sold by Granter may include: 1. Partial Release on a Percentage Interest Sold: This type of release pertains to situations where the granter has sold a specific percentage of their mineral or royalty interest. The release is calculated based on the exact percentage sold, ensuring that only the sold percentage is released from the mortgage or deed of trust. 2. Partial Release on a Fractional Interest Sold: In cases where the granter has sold a fractional interest (e.g., 1/16, 1/8, etc.) of their mineral or royalty interest, this type of release is applicable. It releases the specific fraction that has been sold, leaving the remaining fractional interest unaffected by the mortgage or deed of trust. 3. Partial Release on a Specific Tract or Parcel Sold: This release applies when the granter has sold a specific tract or parcel containing their mineral or royalty interest. The release is limited to the sold tract or parcel, ensuring that the remaining tracts or parcels are no longer encumbered by the mortgage or deed of trust. In conclusion, a Georgia Partial Release of Mortgage / Deed of Trust on A Mineral / Royalty Interest Sold by Granter is a critical legal document that ensures the proper release of a portion of a mortgage or deed of trust encumbering the granter's mineral or royalty interest. Different types of releases may include releases on a percentage interest sold, a fractional interest sold, or a specific tract or parcel sold.