North Dakota 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 Dakota Partial Release of Mortgage / Deed of Trust on a Mineral / Royalty Interest Sold by Granter is a legally binding document that allows the Granter to release a portion of their mortgage or deed of trust on a specific mineral or royalty interest that they have sold. This partial release is necessary to transfer ownership of the interest to the Grantee, while still maintaining the remaining mortgage or deed of trust on any other properties or assets. The North Dakota Partial Release of Mortgage / Deed of Trust on a Mineral / Royalty Interest Sold by Granter is crucial when the Granter decides to sell a part of their mineral or royalty interest but wants to retain ownership on the remaining interests. Key elements covered in this document include the names and contact information of the Granter and Grantee, a detailed legal description of the specific mineral or royalty interest being released, the percentage or portion being transferred, and any applicable consideration or payment associated with the sale. Different types of North Dakota Partial Release of Mortgage / Deed of Trust on a Mineral / Royalty Interest Sold by Granter may be categorized based on the specific type of interest being released or the parties involved. Some possible variations may include: 1. Mineral Interest Partial Release: This type of release is used when a Granter wants to release a portion of their ownership in a mineral interest, such as a portion of an oil, gas, or mineral rights. 2. Royalty Interest Partial Release: This release is applicable when a Granter wishes to release a portion of their ownership in royalty interests, which entitle them to a percentage of revenue from production on a property. 3. Individual-to-Individual Partial Release: This type of release involves two individuals, where the Granter is an individual owner of the mineral or royalty interest, and the Grantee is also an individual or entity acquiring the partial interest. 4. Company-to-Company Partial Release: In contrast to the individual-to-individual release, this variation involves two corporate entities, where the Granter is a company holding the interest, and the Grantee is also a company or corporation acquiring the partial interest. It is important to note that the specific terminology, content, and format of the North Dakota Partial Release of Mortgage / Deed of Trust on A Mineral / Royalty Interest Sold by Granter may vary depending on the legal requirements and preferences of the parties involved. It is recommended to consult with a qualified attorney or legal professional in North Dakota for guidance when drafting or executing such documents.

A North Dakota Partial Release of Mortgage / Deed of Trust on a Mineral / Royalty Interest Sold by Granter is a legally binding document that allows the Granter to release a portion of their mortgage or deed of trust on a specific mineral or royalty interest that they have sold. This partial release is necessary to transfer ownership of the interest to the Grantee, while still maintaining the remaining mortgage or deed of trust on any other properties or assets. The North Dakota Partial Release of Mortgage / Deed of Trust on a Mineral / Royalty Interest Sold by Granter is crucial when the Granter decides to sell a part of their mineral or royalty interest but wants to retain ownership on the remaining interests. Key elements covered in this document include the names and contact information of the Granter and Grantee, a detailed legal description of the specific mineral or royalty interest being released, the percentage or portion being transferred, and any applicable consideration or payment associated with the sale. Different types of North Dakota Partial Release of Mortgage / Deed of Trust on a Mineral / Royalty Interest Sold by Granter may be categorized based on the specific type of interest being released or the parties involved. Some possible variations may include: 1. Mineral Interest Partial Release: This type of release is used when a Granter wants to release a portion of their ownership in a mineral interest, such as a portion of an oil, gas, or mineral rights. 2. Royalty Interest Partial Release: This release is applicable when a Granter wishes to release a portion of their ownership in royalty interests, which entitle them to a percentage of revenue from production on a property. 3. Individual-to-Individual Partial Release: This type of release involves two individuals, where the Granter is an individual owner of the mineral or royalty interest, and the Grantee is also an individual or entity acquiring the partial interest. 4. Company-to-Company Partial Release: In contrast to the individual-to-individual release, this variation involves two corporate entities, where the Granter is a company holding the interest, and the Grantee is also a company or corporation acquiring the partial interest. It is important to note that the specific terminology, content, and format of the North Dakota Partial Release of Mortgage / Deed of Trust on A Mineral / Royalty Interest Sold by Granter may vary depending on the legal requirements and preferences of the parties involved. It is recommended to consult with a qualified attorney or legal professional in North Dakota for guidance when drafting or executing such documents.