New Mexico Subordination of Mortgage / Deed of Trust to Oil and Gas Lease with Bonus and Royalty Payments to Go to Lessor Until Notice from Lienholder

• Category: Oil Gas and Minerals - Subordination
• State: Multi-State
• Control #: US-OG-142
• Format: Word; Rich Text

Description

This form provides for a lienholder to subordinate its lien, created by a mortgage or deed of trust, to an existing oil and gas lease, and directs the bonus and rental payments provided for in the lease to be delivered to the lessor until notified by the lienholder. New Mexico Subordination of Mortgage / Deed of Trust to Oil and Gas Lease with Bonus and Royalty Payments to Go to Lessor Until Notice from Lien holder is a legal document that establishes the priority of royalty payments to the lessor over the mortgage lien holder in an oil and gas lease agreement in New Mexico. This type of subordination agreement ensures that the lessor receives their rightful bonus and royalty payments until the lien holder provides notice of their priority interest. Keywords: New Mexico, subordination of mortgage, deed of trust, oil and gas lease, bonus payments, royalty payments, lessor, lien holder, priority interest. Different types of New Mexico Subordination of Mortgage / Deed of Trust to Oil and Gas Lease with Bonus and Royalty Payments to Go to Lessor Until Notice from Lien holder may include: 1. Voluntary Subordination: This type of agreement is willingly entered into by the mortgage lender or lien holder, allowing the lessor to receive bonus and royalty payments until the lien holder provides notice of their priority interest. 2. Involuntary Subordination: In some cases, a court may order the subordination of the mortgage or deed of trust to the oil and gas lease, ensuring that the lessor is entitled to bonus and royalty payments until the lien holder provides notice. 3. Partial Subordination: This variation of the agreement allows for partial subordination, where only a portion of the bonus and royalty payments are directed to the lessor until notice from the lien holder. 4. Temporary Subordination: In certain circumstances, the subordination agreement may have a predetermined expiration date, after which the lien holder regains priority over the bonus and royalty payments. 5. Automatic Subordination: This type of agreement includes an automatic subordination clause, which triggers the subordination of the mortgage or deed of trust to the oil and gas lease without the need for any additional notice or legal action. 6. Non-Disturbance Provision: Some subordination agreements may include a non-disturbance provision, ensuring that the lessor's rights to bonus and royalty payments are protected even in the event of foreclosure or transfer of the property. It is important to consult with legal experts and review the specific terms and conditions of the subordination agreement to ensure compliance with New Mexico laws and to protect the rights and interests of all parties involved.

New Mexico Subordination of Mortgage / Deed of Trust to Oil and Gas Lease with Bonus and Royalty Payments to Go to Lessor Until Notice from Lien holder is a legal document that establishes the priority of royalty payments to the lessor over the mortgage lien holder in an oil and gas lease agreement in New Mexico. This type of subordination agreement ensures that the lessor receives their rightful bonus and royalty payments until the lien holder provides notice of their priority interest. Keywords: New Mexico, subordination of mortgage, deed of trust, oil and gas lease, bonus payments, royalty payments, lessor, lien holder, priority interest. Different types of New Mexico Subordination of Mortgage / Deed of Trust to Oil and Gas Lease with Bonus and Royalty Payments to Go to Lessor Until Notice from Lien holder may include: 1. Voluntary Subordination: This type of agreement is willingly entered into by the mortgage lender or lien holder, allowing the lessor to receive bonus and royalty payments until the lien holder provides notice of their priority interest. 2. Involuntary Subordination: In some cases, a court may order the subordination of the mortgage or deed of trust to the oil and gas lease, ensuring that the lessor is entitled to bonus and royalty payments until the lien holder provides notice. 3. Partial Subordination: This variation of the agreement allows for partial subordination, where only a portion of the bonus and royalty payments are directed to the lessor until notice from the lien holder. 4. Temporary Subordination: In certain circumstances, the subordination agreement may have a predetermined expiration date, after which the lien holder regains priority over the bonus and royalty payments. 5. Automatic Subordination: This type of agreement includes an automatic subordination clause, which triggers the subordination of the mortgage or deed of trust to the oil and gas lease without the need for any additional notice or legal action. 6. Non-Disturbance Provision: Some subordination agreements may include a non-disturbance provision, ensuring that the lessor's rights to bonus and royalty payments are protected even in the event of foreclosure or transfer of the property. It is important to consult with legal experts and review the specific terms and conditions of the subordination agreement to ensure compliance with New Mexico laws and to protect the rights and interests of all parties involved.