New York Partial Release of Lien on Assigned Overriding Royalty Interest

• Category: Oil Gas and Minerals - Releases
• State: Multi-State
• Control #: US-OG-406
• Format: Word; Rich Text

Description

This form of release is used when Lienholder releases, relinquishes, and surrenders to Mortgagor/ Grantor's Assignee all of Lienholder's rights, claims, and liens under the Mortgage/Deed of Trust in and to an undivided overriding royalty interest. A New York Partial Release of Lien on Assigned Overriding Royalty Interest refers to a legal document that allows for the partial release of a lien placed on an assigned overriding royalty interest in New York. This type of lien release typically occurs when a property owner grants an overriding royalty interest to a third party, and a lien is placed on that interest as security for a debt or obligation. The New York partial release enables the release of a portion of the assigned overriding royalty interest from the lien, while still maintaining the lien on the remaining interest. This can be done in various scenarios, such as when a borrower makes partial payments towards the debt or obligates the release of specific portions of the interest. Keywords: New York, partial release, lien, assigned, overriding royalty interest, legal document, property owner, third party, security, debt, obligation, borrower, payments, portion, interest. Different types of New York Partial Release of Lien on Assigned Overriding Royalty Interest may include: 1. Partial Release of Lien on Assigned Overriding Royalty Interest for Debt Repayment: This type of release occurs when a borrower pays off a specific portion of the debt secured by the overriding royalty interest, and the lien is partially released accordingly. 2. Partial Release of Lien on Assigned Overriding Royalty Interest for Property Transfer: In some cases, a property owner might transfer a portion of their overriding royalty interest to another party. In such instances, a partial release of lien is necessary to release the assigned interest from the lien while still maintaining lien rights on the remaining interest. 3. Partial Release of Lien on Assigned Overriding Royalty Interest for Specific Obligations: When specific obligations or conditions are met, such as fulfilling performance requirements, a partial release of lien can be executed for the assigned overriding royalty interest. 4. Partial Release of Lien on Assigned Overriding Royalty Interest for Installment Payments: In situations where the debt secured by the interest is being repaid in installments, a partial release of lien can be performed as each payment is made, progressively releasing assigned portions of the interest. These different types of partial releases provide flexibility and potential benefits to both the debtor and the lien holder, allowing for the effective management and optimization of assigned overriding royalty interests in New York.

A New York Partial Release of Lien on Assigned Overriding Royalty Interest refers to a legal document that allows for the partial release of a lien placed on an assigned overriding royalty interest in New York. This type of lien release typically occurs when a property owner grants an overriding royalty interest to a third party, and a lien is placed on that interest as security for a debt or obligation. The New York partial release enables the release of a portion of the assigned overriding royalty interest from the lien, while still maintaining the lien on the remaining interest. This can be done in various scenarios, such as when a borrower makes partial payments towards the debt or obligates the release of specific portions of the interest. Keywords: New York, partial release, lien, assigned, overriding royalty interest, legal document, property owner, third party, security, debt, obligation, borrower, payments, portion, interest. Different types of New York Partial Release of Lien on Assigned Overriding Royalty Interest may include: 1. Partial Release of Lien on Assigned Overriding Royalty Interest for Debt Repayment: This type of release occurs when a borrower pays off a specific portion of the debt secured by the overriding royalty interest, and the lien is partially released accordingly. 2. Partial Release of Lien on Assigned Overriding Royalty Interest for Property Transfer: In some cases, a property owner might transfer a portion of their overriding royalty interest to another party. In such instances, a partial release of lien is necessary to release the assigned interest from the lien while still maintaining lien rights on the remaining interest. 3. Partial Release of Lien on Assigned Overriding Royalty Interest for Specific Obligations: When specific obligations or conditions are met, such as fulfilling performance requirements, a partial release of lien can be executed for the assigned overriding royalty interest. 4. Partial Release of Lien on Assigned Overriding Royalty Interest for Installment Payments: In situations where the debt secured by the interest is being repaid in installments, a partial release of lien can be performed as each payment is made, progressively releasing assigned portions of the interest. These different types of partial releases provide flexibility and potential benefits to both the debtor and the lien holder, allowing for the effective management and optimization of assigned overriding royalty interests in New York.