A New Mexico Partial Release of Mortgage/Deed of Trust on a Mineral/Royalty Interest Sold by Granter is a legal document that outlines the release of a portion of a mortgage or deed of trust on a mineral or royalty interest in the state of New Mexico. This type of release is applicable when the granter sells or transfers a portion of their interest, and wishes to release the mortgage or deed of trust only on the specific portion sold. This partial release becomes necessary when an individual or entity decides to sell a portion of their mineral or royalty interest, but aims to retain ownership of the remaining interest. By executing a New Mexico Partial Release of Mortgage/Deed of Trust, the granter officially releases the mortgage or deed of trust on the specific portion being sold or transferred, freeing it from any encumbrances or claims. This legal document serves as evidence to demonstrate the granter's intent to release their interest in a specific portion of the property while maintaining the mortgage or deed of trust on the remaining portion. It ensures clarity for all parties involved, protecting the rights and interests of both the granter and the buyer. Different types of New Mexico Partial Release of Mortgage/Deed of Trust on a Mineral/Royalty Interest Sold by Granter may include: 1. Specific Percentage Partial Release: This type of release specifies the percentage of the mineral or royalty interest being sold by the granter. It clearly outlines the exact portion being released from the mortgage or deed of trust. 2. Specific Acreage Partial Release: In cases where the property is divided into different parcels or sections, a specific acreage partial release is employed. It identifies the specific acreage being sold by the granter and releases the mortgage or deed of trust solely on that section. 3. Specific Lease Partial Release: If the granter has multiple leases on their mineral or royalty interest, a specific lease partial release may be required. This release specifically identifies the lease or leases being sold by the granter, releasing the mortgage or deed of trust on those specific leases only. By utilizing the appropriate type of New Mexico Partial Release of Mortgage/Deed of Trust, the granter can ensure a smooth transfer of ownership while maintaining the necessary mortgage or deed of trust on the remaining portion of their mineral or royalty interest. It is essential to consult with a qualified attorney or legal professional knowledgeable in New Mexico real estate laws to draft and execute this document accurately and in compliance with the state's requirements.
New Mexico Partial Release of Mortgage / Deed of Trust on A Mineral / Royalty Interest Sold by Grantor
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