North Carolina 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 North Carolina Partial Release of Mortgage or Deed of Trust on a Mineral/Royalty Interest Sold by the Granter is a legal document used to release a specific portion of a property's mineral or royalty interest from a previously recorded mortgage or deed of trust. This release allows the seller, known as the granter, to transfer partial ownership of the mineral or royalty interest to another party, while still keeping the remaining interest encumbered by the mortgage. Keywords: North Carolina, partial release, mortgage, deed of trust, mineral interest, royalty interest, granter. There are two primary types of North Carolina Partial Release of Mortgage or Deed of Trust on a Mineral/Royalty Interest Sold by the Granter: 1. Partial Release of Mortgage/Deed of Trust on a Mineral Interest: This type of release focuses on the partial ownership transfer of the mineral interest. When someone sells a portion of their mineral interest, the granter can use this document to release the mortgage or deed of trust on that specific portion, ensuring that the buyer receives the unencumbered ownership rights. 2. Partial Release of Mortgage/Deed of Trust on a Royalty Interest: In some cases, individuals may choose to sell only a part of their royalty interest. To facilitate this partial transfer, the granter must execute a Partial Release of Mortgage or Deed of Trust on the specific portion of the royalty interest being sold. This release ensures that the buyer's acquired share is free from any mortgage or deed of trust. Both types of releases require specific details, including the legal description of the property, the percentage or fraction of interest being released, the recorded information of the original mortgage or deed of trust, and the consideration or payment received for the partial interest transfer. Additionally, the document needs to be notarized and recorded with the appropriate county clerk's office to establish its legal validity and protect the buyer's interest. It's important to note that engaging a qualified attorney is crucial while executing a North Carolina Partial Release of Mortgage or Deed of Trust on a Mineral/Royalty Interest Sold by the Granter. This will ensure compliance with state laws, accuracy in drafting, and proper execution to protect the interests of all parties involved in the transaction.

A North Carolina Partial Release of Mortgage or Deed of Trust on a Mineral/Royalty Interest Sold by the Granter is a legal document used to release a specific portion of a property's mineral or royalty interest from a previously recorded mortgage or deed of trust. This release allows the seller, known as the granter, to transfer partial ownership of the mineral or royalty interest to another party, while still keeping the remaining interest encumbered by the mortgage. Keywords: North Carolina, partial release, mortgage, deed of trust, mineral interest, royalty interest, granter. There are two primary types of North Carolina Partial Release of Mortgage or Deed of Trust on a Mineral/Royalty Interest Sold by the Granter: 1. Partial Release of Mortgage/Deed of Trust on a Mineral Interest: This type of release focuses on the partial ownership transfer of the mineral interest. When someone sells a portion of their mineral interest, the granter can use this document to release the mortgage or deed of trust on that specific portion, ensuring that the buyer receives the unencumbered ownership rights. 2. Partial Release of Mortgage/Deed of Trust on a Royalty Interest: In some cases, individuals may choose to sell only a part of their royalty interest. To facilitate this partial transfer, the granter must execute a Partial Release of Mortgage or Deed of Trust on the specific portion of the royalty interest being sold. This release ensures that the buyer's acquired share is free from any mortgage or deed of trust. Both types of releases require specific details, including the legal description of the property, the percentage or fraction of interest being released, the recorded information of the original mortgage or deed of trust, and the consideration or payment received for the partial interest transfer. Additionally, the document needs to be notarized and recorded with the appropriate county clerk's office to establish its legal validity and protect the buyer's interest. It's important to note that engaging a qualified attorney is crucial while executing a North Carolina Partial Release of Mortgage or Deed of Trust on a Mineral/Royalty Interest Sold by the Granter. This will ensure compliance with state laws, accuracy in drafting, and proper execution to protect the interests of all parties involved in the transaction.