Mississippi Subordination of Mortgage / Deed of Trust to Oil and Gas Lease with Bonus and Royalty Payments to Go to Lessor Until Notice from Lienholder

• Category: Oil Gas and Minerals - Subordination
• State: Multi-State
• Control #: US-OG-142
• Format: Word; Rich Text

Description

This form provides for a lienholder to subordinate its lien, created by a mortgage or deed of trust, to an existing oil and gas lease, and directs the bonus and rental payments provided for in the lease to be delivered to the lessor until notified by the lienholder. The Mississippi Subordination of Mortgage / Deed of Trust to Oil and Gas Lease with Bonus and Royalty Payments to Go to Lessor Until Notice from Lien holder is a legal document that outlines the priority of payments and rights in the context of an oil and gas lease agreement. In this arrangement, the lessor (the property owner) grants the lessee (the oil and gas company) the right to explore and extract oil and gas resources from the property in exchange for bonus and royalty payments. Keywords: Mississippi, Subordination of Mortgage, Deed of Trust, Oil and Gas Lease, Bonus Payments, Royalty Payments, Lessor, Notice, Lien holder. This type of agreement is commonly used in Mississippi to ensure that mortgage or deed of trust holders are aware of and agree to the placement of an oil and gas lease on the property. By subordinating the mortgage or deed of trust to the lease, the lessor agrees that the lease and its associated bonus and royalty payments will take priority over any mortgage or deed of trust held by a lien holder until the lien holder receives notice. There are different variations of this arrangement, each catering to specific situations or preferences: 1. Mississippi Subordination of Mortgage to Oil and Gas Lease with Bonus and Royalty Payments: This version refers specifically to mortgages and does not involve a deed of trust. The mortgage is subordinated to the oil and gas lease, ensuring that the lease and its payments take priority. 2. Mississippi Subordination of Deed of Trust to Oil and Gas Lease with Bonus and Royalty Payments: In this case, a deed of trust is being used instead of a mortgage. The deed of trust is subordinated to the oil and gas lease, giving precedence to the lease payments. 3. Mississippi Subordination of Mortgage / Deed of Trust to Oil and Gas Lease with Bonus and Royalty Payments to Go to Lessor Until Notice from Lien holder: This variation focuses on the condition that the bonus and royalty payments from the oil and gas lease will continue to flow directly to the lessor until the lien holder is officially notified of the subordination. Once notified, the lien holder's rights and interests will be considered in the payment priority. Overall, the Mississippi Subordination of Mortgage / Deed of Trust to Oil and Gas Lease with Bonus and Royalty Payments to Go to Lessor Until Notice from Lien holder is an important legal document that ensures all parties involved in an oil and gas lease agreement are aware of their rights, payment priority, and potential impacts on mortgages or deeds of trust.

The Mississippi Subordination of Mortgage / Deed of Trust to Oil and Gas Lease with Bonus and Royalty Payments to Go to Lessor Until Notice from Lien holder is a legal document that outlines the priority of payments and rights in the context of an oil and gas lease agreement. In this arrangement, the lessor (the property owner) grants the lessee (the oil and gas company) the right to explore and extract oil and gas resources from the property in exchange for bonus and royalty payments. Keywords: Mississippi, Subordination of Mortgage, Deed of Trust, Oil and Gas Lease, Bonus Payments, Royalty Payments, Lessor, Notice, Lien holder. This type of agreement is commonly used in Mississippi to ensure that mortgage or deed of trust holders are aware of and agree to the placement of an oil and gas lease on the property. By subordinating the mortgage or deed of trust to the lease, the lessor agrees that the lease and its associated bonus and royalty payments will take priority over any mortgage or deed of trust held by a lien holder until the lien holder receives notice. There are different variations of this arrangement, each catering to specific situations or preferences: 1. Mississippi Subordination of Mortgage to Oil and Gas Lease with Bonus and Royalty Payments: This version refers specifically to mortgages and does not involve a deed of trust. The mortgage is subordinated to the oil and gas lease, ensuring that the lease and its payments take priority. 2. Mississippi Subordination of Deed of Trust to Oil and Gas Lease with Bonus and Royalty Payments: In this case, a deed of trust is being used instead of a mortgage. The deed of trust is subordinated to the oil and gas lease, giving precedence to the lease payments. 3. Mississippi Subordination of Mortgage / Deed of Trust to Oil and Gas Lease with Bonus and Royalty Payments to Go to Lessor Until Notice from Lien holder: This variation focuses on the condition that the bonus and royalty payments from the oil and gas lease will continue to flow directly to the lessor until the lien holder is officially notified of the subordination. Once notified, the lien holder's rights and interests will be considered in the payment priority. Overall, the Mississippi Subordination of Mortgage / Deed of Trust to Oil and Gas Lease with Bonus and Royalty Payments to Go to Lessor Until Notice from Lien holder is an important legal document that ensures all parties involved in an oil and gas lease agreement are aware of their rights, payment priority, and potential impacts on mortgages or deeds of trust.