Missouri 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 Missouri Partial Release of Lien on Assigned Overriding Royalty Interest is a legal document that releases a portion of a lien on an assigned overriding royalty interest in the state of Missouri. This document is used when a party has placed a lien on specific royalty interests but wishes to release a portion of that lien. A lien is typically placed on an overriding royalty interest to secure a debt or obligation owed by the interest owner. However, if the interest owner has made partial payment or fulfilled part of their obligation, the party holding the lien may issue a partial release to reflect the partial satisfaction of the debt. In the state of Missouri, there may be different types of partial releases of lien on assigned overriding royalty interests depending on the specific circumstances and the terms agreed upon by the parties involved. These may include: 1. Percentage Release: This type of partial release specifies the percentage of the lined overriding royalty interest that is being released. For example, a party may release 50% of the lien on an assigned overriding royalty interest, indicating that half of the debt has been satisfied. 2. Partial Payment Release: In cases where the interest owner has made partial payment towards the debt, a partial payment release may be issued. This type of release states the exact amount of payment made and the corresponding reduction in the lien amount. 3. Performance Release: If the interest owner has fulfilled a certain obligation that was secured by the lien, such as completing certain contractual obligations or providing specific services, a performance release may be issued to acknowledge the satisfaction of those requirements and release the lien accordingly. 4. Time-Based Release: In some cases, a lien on an assigned overriding royalty interest may be released gradually over a specified period of time. This type of release is commonly used when the interest owner has agreed to make payments in installments, with each payment resulting in a corresponding partial release of the lien. It is important to note that the specific terms and requirements for Missouri partial releases of lien on assigned overriding royalty interests may vary depending on the parties involved, the nature of the debt or obligation, and other relevant factors. It is recommended to seek legal advice or consult with an attorney experienced in Missouri law to ensure compliance with state regulations and to properly draft and execute the required documents.

A Missouri Partial Release of Lien on Assigned Overriding Royalty Interest is a legal document that releases a portion of a lien on an assigned overriding royalty interest in the state of Missouri. This document is used when a party has placed a lien on specific royalty interests but wishes to release a portion of that lien. A lien is typically placed on an overriding royalty interest to secure a debt or obligation owed by the interest owner. However, if the interest owner has made partial payment or fulfilled part of their obligation, the party holding the lien may issue a partial release to reflect the partial satisfaction of the debt. In the state of Missouri, there may be different types of partial releases of lien on assigned overriding royalty interests depending on the specific circumstances and the terms agreed upon by the parties involved. These may include: 1. Percentage Release: This type of partial release specifies the percentage of the lined overriding royalty interest that is being released. For example, a party may release 50% of the lien on an assigned overriding royalty interest, indicating that half of the debt has been satisfied. 2. Partial Payment Release: In cases where the interest owner has made partial payment towards the debt, a partial payment release may be issued. This type of release states the exact amount of payment made and the corresponding reduction in the lien amount. 3. Performance Release: If the interest owner has fulfilled a certain obligation that was secured by the lien, such as completing certain contractual obligations or providing specific services, a performance release may be issued to acknowledge the satisfaction of those requirements and release the lien accordingly. 4. Time-Based Release: In some cases, a lien on an assigned overriding royalty interest may be released gradually over a specified period of time. This type of release is commonly used when the interest owner has agreed to make payments in installments, with each payment resulting in a corresponding partial release of the lien. It is important to note that the specific terms and requirements for Missouri partial releases of lien on assigned overriding royalty interests may vary depending on the parties involved, the nature of the debt or obligation, and other relevant factors. It is recommended to seek legal advice or consult with an attorney experienced in Missouri law to ensure compliance with state regulations and to properly draft and execute the required documents.