Maine 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 Maine Partial Release of Lien on Assigned Overriding Royalty Interest is a legal document that serves to release a portion of the lien on an assigned overriding royalty interest in the state of Maine. This release is typically granted when a debtor has partially satisfied their financial obligation or when there is a need to release a specific portion of the lien. In Maine, there may be different types of Partial Release of Lien on Assigned Overriding Royalty Interest, including: 1. Partial Release by Percentage: This type of partial release specifies a certain percentage of the assigned overriding royalty interest that is being released from the lien. For example, if a debtor has repaid 50% of their financial obligation, the lien holder may release 50% of the assigned overriding royalty interest from the lien. 2. Partial Release by Amount: In this case, the partial release is determined by a specific monetary amount. If the debtor has made a partial payment, the release will be granted based on the amount paid, while the remaining portion of the assigned overriding royalty interest will still be subject to the lien. 3. Partial Release on Specific Property: This type of release is applicable when there are multiple properties subject to the lien. The lien holder may release the assigned overriding royalty interest from a specific property while keeping the lien intact on other properties. This allows debtors to sell or transfer ownership of certain properties without the burden of the lien on the assigned overriding royalty interest. When filing a Maine Partial Release of Lien on Assigned Overriding Royalty Interest, it is crucial to accurately specify the details of the lien, such as the recording information, the names of the parties involved, and the specific percentage, amount, or property being released. This document should be signed and notarized by the relevant parties, including the lien holder and debtor. Key relevant keywords for this topic may include: Maine, partial release, lien, assigned overriding royalty interest, debtor, creditor, property, legal document, satisfaction of financial obligation.

A Maine Partial Release of Lien on Assigned Overriding Royalty Interest is a legal document that serves to release a portion of the lien on an assigned overriding royalty interest in the state of Maine. This release is typically granted when a debtor has partially satisfied their financial obligation or when there is a need to release a specific portion of the lien. In Maine, there may be different types of Partial Release of Lien on Assigned Overriding Royalty Interest, including: 1. Partial Release by Percentage: This type of partial release specifies a certain percentage of the assigned overriding royalty interest that is being released from the lien. For example, if a debtor has repaid 50% of their financial obligation, the lien holder may release 50% of the assigned overriding royalty interest from the lien. 2. Partial Release by Amount: In this case, the partial release is determined by a specific monetary amount. If the debtor has made a partial payment, the release will be granted based on the amount paid, while the remaining portion of the assigned overriding royalty interest will still be subject to the lien. 3. Partial Release on Specific Property: This type of release is applicable when there are multiple properties subject to the lien. The lien holder may release the assigned overriding royalty interest from a specific property while keeping the lien intact on other properties. This allows debtors to sell or transfer ownership of certain properties without the burden of the lien on the assigned overriding royalty interest. When filing a Maine Partial Release of Lien on Assigned Overriding Royalty Interest, it is crucial to accurately specify the details of the lien, such as the recording information, the names of the parties involved, and the specific percentage, amount, or property being released. This document should be signed and notarized by the relevant parties, including the lien holder and debtor. Key relevant keywords for this topic may include: Maine, partial release, lien, assigned overriding royalty interest, debtor, creditor, property, legal document, satisfaction of financial obligation.