North Dakota Partial Release of Mortgage / Deed of Trust Lien on Leasehold Interest in Part of Lands Subject to Mortgage / Deed of Trust

• Category: Oil Gas and Minerals - Releases
• State: Multi-State
• Control #: US-OG-551
• Format: Word; Rich Text

Description

This form provides for a partial release of a mortgage/deed of trust on leasehold interests. A North Dakota Partial Release of Mortgage/Deed of Trust Lien on Leasehold Interest in Part of Lands Subject to Mortgage/Deed of Trust is a legal document that serves to release a specific portion of a leasehold interest from the encumbrance of a mortgage or deed of trust in North Dakota. This release allows the property owner to free up the leasehold interest on a portion of the land, while still maintaining the mortgage or deed of trust lien on the remaining portion. In North Dakota, there are two main types of Partial Release of Mortgage/Deed of Trust Lien on Leasehold Interest documents: 1. Partial Release of Mortgage/Deed of Trust Lien: This type of release is used when a property owner wishes to release a portion of their leasehold interest from the encumbrance of the mortgage or deed of trust. It is commonly utilized in situations where the property owner wants to sell, lease, or develop a specific portion of the land while keeping the mortgage or deed of trust lien in place on the remaining portion. 2. Leasehold Interest in Part of Lands Subject to Mortgage/Deed of Trust: This type of release is used when a property owner holds a leasehold interest in only a portion of the land covered by a mortgage or deed of trust. The release allows the property owner to separate the leasehold interest from the encumbrance of the mortgage or deed of trust, providing flexibility for lease negotiations or other related transactions. The North Dakota Partial Release of Mortgage/Deed of Trust Lien on Leasehold Interest in Part of Lands Subject to Mortgage/Deed of Trust document typically includes the following information: 1. Parties Involved: The document identifies the property owner, the mortgage or deed of trust holder, and any other relevant parties involved in the release. 2. Property Description: The document includes a detailed description of the property, including the legal description of the land and the specific portion of the leasehold interest being released. 3. Release Terms: The document outlines the terms and conditions of the release, including the effective date of the release and any obligations or responsibilities of the parties involved. 4. Legal Authority: The document may reference the relevant North Dakota statutes under which the release is authorized. 5. Recording Information: The document provides instructions for recording the release with the appropriate county recorder's office to ensure its validity and enforceability. It is important to consult with a legal professional to draft or review a North Dakota Partial Release of Mortgage/Deed of Trust Lien on Leasehold Interest in Part of Lands Subject to Mortgage/Deed of Trust, as it involves complex legal considerations and should be tailored to the specific circumstances of the property and parties involved.

A North Dakota Partial Release of Mortgage/Deed of Trust Lien on Leasehold Interest in Part of Lands Subject to Mortgage/Deed of Trust is a legal document that serves to release a specific portion of a leasehold interest from the encumbrance of a mortgage or deed of trust in North Dakota. This release allows the property owner to free up the leasehold interest on a portion of the land, while still maintaining the mortgage or deed of trust lien on the remaining portion. In North Dakota, there are two main types of Partial Release of Mortgage/Deed of Trust Lien on Leasehold Interest documents: 1. Partial Release of Mortgage/Deed of Trust Lien: This type of release is used when a property owner wishes to release a portion of their leasehold interest from the encumbrance of the mortgage or deed of trust. It is commonly utilized in situations where the property owner wants to sell, lease, or develop a specific portion of the land while keeping the mortgage or deed of trust lien in place on the remaining portion. 2. Leasehold Interest in Part of Lands Subject to Mortgage/Deed of Trust: This type of release is used when a property owner holds a leasehold interest in only a portion of the land covered by a mortgage or deed of trust. The release allows the property owner to separate the leasehold interest from the encumbrance of the mortgage or deed of trust, providing flexibility for lease negotiations or other related transactions. The North Dakota Partial Release of Mortgage/Deed of Trust Lien on Leasehold Interest in Part of Lands Subject to Mortgage/Deed of Trust document typically includes the following information: 1. Parties Involved: The document identifies the property owner, the mortgage or deed of trust holder, and any other relevant parties involved in the release. 2. Property Description: The document includes a detailed description of the property, including the legal description of the land and the specific portion of the leasehold interest being released. 3. Release Terms: The document outlines the terms and conditions of the release, including the effective date of the release and any obligations or responsibilities of the parties involved. 4. Legal Authority: The document may reference the relevant North Dakota statutes under which the release is authorized. 5. Recording Information: The document provides instructions for recording the release with the appropriate county recorder's office to ensure its validity and enforceability. It is important to consult with a legal professional to draft or review a North Dakota Partial Release of Mortgage/Deed of Trust Lien on Leasehold Interest in Part of Lands Subject to Mortgage/Deed of Trust, as it involves complex legal considerations and should be tailored to the specific circumstances of the property and parties involved.