New Jersey 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 New Jersey 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 used to release a portion of the mortgage or deed of trust lien on a leasehold interest in land. This type of release is typically required when a lessee wants to sell or transfer a portion of their leasehold interest while keeping the remaining portion still subject to the original mortgage or deed of trust. Keywords: New Jersey, partial release, mortgage, deed of trust, lien, leasehold interest, lands, subject, transfer, sell, lessee There are different types of New Jersey Partial Releases of Mortgage/Deed of Trust Lien on Leasehold Interest in Part of Lands Subject to Mortgage/Deed of Trust, based on the specific circumstances: 1. Partial Release of Mortgage/Deed of Trust Lien on Leasehold Interest in Divided Lands: This type of release is executed when a lessee wants to transfer a specific portion of the leased land, which has been divided into different parcels, while keeping the remaining land under the mortgage or deed of trust. 2. Partial Release of Mortgage/Deed of Trust Lien on Leasehold Interest for Subletting: When a lessee wishes to sublet a portion of the leased land to another party, this form of partial release is executed. It allows the sublessee to occupy a defined area of the land while still keeping the primary leasehold interest under the mortgage or deed of trust. 3. Partial Release of Mortgage/Deed of Trust Lien on Leasehold Interest in Redevelopment Projects: In cases where a lessee is engaged in a redevelopment project and needs to transfer a specific portion of the leasehold interest to a developer, this release is used. It enables the developer to obtain a mortgage or deed of trust on the portion being transferred while ensuring the remaining leasehold interest remains encumbered under the original mortgage or deed of trust. 4. Partial Release of Mortgage/Deed of Trust Lien on Leasehold Interest Encumbering Multiple Parcels: If the leasehold interest covers multiple parcels or buildings, but the lessee wishes to sell or transfer only a portion of them, this type of release is employed. It releases the lien on the specific parcels being transferred while retaining the mortgage or deed of trust on the rest. It is important to consult with a legal professional familiar with New Jersey real estate laws to ensure that the specific requirements for a Partial Release of Mortgage/Deed of Trust Lien on Leasehold Interest in Part of Lands Subject to Mortgage/Deed of Trust are met accurately.

A New Jersey 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 used to release a portion of the mortgage or deed of trust lien on a leasehold interest in land. This type of release is typically required when a lessee wants to sell or transfer a portion of their leasehold interest while keeping the remaining portion still subject to the original mortgage or deed of trust. Keywords: New Jersey, partial release, mortgage, deed of trust, lien, leasehold interest, lands, subject, transfer, sell, lessee There are different types of New Jersey Partial Releases of Mortgage/Deed of Trust Lien on Leasehold Interest in Part of Lands Subject to Mortgage/Deed of Trust, based on the specific circumstances: 1. Partial Release of Mortgage/Deed of Trust Lien on Leasehold Interest in Divided Lands: This type of release is executed when a lessee wants to transfer a specific portion of the leased land, which has been divided into different parcels, while keeping the remaining land under the mortgage or deed of trust. 2. Partial Release of Mortgage/Deed of Trust Lien on Leasehold Interest for Subletting: When a lessee wishes to sublet a portion of the leased land to another party, this form of partial release is executed. It allows the sublessee to occupy a defined area of the land while still keeping the primary leasehold interest under the mortgage or deed of trust. 3. Partial Release of Mortgage/Deed of Trust Lien on Leasehold Interest in Redevelopment Projects: In cases where a lessee is engaged in a redevelopment project and needs to transfer a specific portion of the leasehold interest to a developer, this release is used. It enables the developer to obtain a mortgage or deed of trust on the portion being transferred while ensuring the remaining leasehold interest remains encumbered under the original mortgage or deed of trust. 4. Partial Release of Mortgage/Deed of Trust Lien on Leasehold Interest Encumbering Multiple Parcels: If the leasehold interest covers multiple parcels or buildings, but the lessee wishes to sell or transfer only a portion of them, this type of release is employed. It releases the lien on the specific parcels being transferred while retaining the mortgage or deed of trust on the rest. It is important to consult with a legal professional familiar with New Jersey real estate laws to ensure that the specific requirements for a Partial Release of Mortgage/Deed of Trust Lien on Leasehold Interest in Part of Lands Subject to Mortgage/Deed of Trust are met accurately.