Missouri 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 Missouri 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 on a mineral or royalty interest. This partial release is executed by the granter, who sells a portion of their interest, and it removes the encumbrance on that specific portion. In Missouri, there can be different types of Partial Releases of Mortgage/Deed of Trust on Mineral/Royalty Interest Sold by Granter, including: 1. Fractional Interest Release: This type of release is used when the granter sells a fraction or percentage of their mineral or royalty interest. For example, if a granter sells 50% of their mineral rights, a Partial Release of Mortgage/Deed of Trust is executed to remove the mortgage or deed of trust on that 50% sold interest. 2. Specific Tract Release: If the granter owns multiple mineral or royalty interests in different tracts of land and sells only one specific tract, a Specific Tract Release is used to release the mortgage or deed of trust encumbering only that particular tract. 3. Time-Based Release: Sometimes, a granter may sell a mineral or royalty interest for a specific duration or time period, such as 10 years. In such cases, a Time-Based Release is executed, which removes the encumbrance for the duration specified. A Partial Release of Mortgage/Deed of Trust on a Mineral/Royalty Interest Sold by Granter is an important legal document as it provides evidence of the release, protects the interests of both parties involved, and helps ensure the transfer of clear title. It is essential to have this document properly prepared, signed, and recorded with the appropriate county recorder's office in Missouri to ensure its legal validity.

A Missouri 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 on a mineral or royalty interest. This partial release is executed by the granter, who sells a portion of their interest, and it removes the encumbrance on that specific portion. In Missouri, there can be different types of Partial Releases of Mortgage/Deed of Trust on Mineral/Royalty Interest Sold by Granter, including: 1. Fractional Interest Release: This type of release is used when the granter sells a fraction or percentage of their mineral or royalty interest. For example, if a granter sells 50% of their mineral rights, a Partial Release of Mortgage/Deed of Trust is executed to remove the mortgage or deed of trust on that 50% sold interest. 2. Specific Tract Release: If the granter owns multiple mineral or royalty interests in different tracts of land and sells only one specific tract, a Specific Tract Release is used to release the mortgage or deed of trust encumbering only that particular tract. 3. Time-Based Release: Sometimes, a granter may sell a mineral or royalty interest for a specific duration or time period, such as 10 years. In such cases, a Time-Based Release is executed, which removes the encumbrance for the duration specified. A Partial Release of Mortgage/Deed of Trust on a Mineral/Royalty Interest Sold by Granter is an important legal document as it provides evidence of the release, protects the interests of both parties involved, and helps ensure the transfer of clear title. It is essential to have this document properly prepared, signed, and recorded with the appropriate county recorder's office in Missouri to ensure its legal validity.