Texas Partial Release of Mortgage / Deed of Trust on Undivided Leasehold Interest

• Category: Oil Gas and Minerals - Releases
• State: Multi-State
• Control #: US-OG-408
• Format: Word; Rich Text

Description

This form provides for a partial release of a mortgage/deed of trust of leasehold interests. A Texas Partial Release of Mortgage / Deed of Trust on Undivided Leasehold Interest is a legal document used to release a portion of the mortgage or deed of trust on a property with an undivided leasehold interest. This type of release is commonly applied when a property has multiple owners who each hold a leasehold interest. In Texas, there are different types of Partial Release of Mortgage / Deed of Trust on Undivided Leasehold Interest, namely: 1. Voluntary Partial Release: This occurs when the property owner intends to release a specific portion of the mortgage or deed of trust willingly. It is typically requested when one owner wishes to sell or finance their portion of the property. 2. Involuntary Partial Release: This occurs when a court or legal authority orders the release of a portion of the mortgage or deed of trust. It often happens in situations where one owner files for bankruptcy or the property is being divided through a legal proceeding. 3. Partial Release Agreement: A formal agreement between multiple property owners to release a specific portion of the mortgage or deed of trust. This agreement outlines the terms and conditions of the release and is signed by all parties involved. The purpose of a Texas Partial Release of Mortgage / Deed of Trust on Undivided Leasehold Interest is to allow for the transfer of ownership or financing of a specific portion of the property. By releasing the mortgage or deed of trust on that particular portion, the property owner or buyer can proceed with their intended actions without hindrance. Keywords: Texas, Partial Release, Mortgage, Deed of Trust, Undivided, Leasehold Interest, Voluntary, Involuntary, Release Agreement, Property Ownership, Financing.

A Texas Partial Release of Mortgage / Deed of Trust on Undivided Leasehold Interest is a legal document used to release a portion of the mortgage or deed of trust on a property with an undivided leasehold interest. This type of release is commonly applied when a property has multiple owners who each hold a leasehold interest. In Texas, there are different types of Partial Release of Mortgage / Deed of Trust on Undivided Leasehold Interest, namely: 1. Voluntary Partial Release: This occurs when the property owner intends to release a specific portion of the mortgage or deed of trust willingly. It is typically requested when one owner wishes to sell or finance their portion of the property. 2. Involuntary Partial Release: This occurs when a court or legal authority orders the release of a portion of the mortgage or deed of trust. It often happens in situations where one owner files for bankruptcy or the property is being divided through a legal proceeding. 3. Partial Release Agreement: A formal agreement between multiple property owners to release a specific portion of the mortgage or deed of trust. This agreement outlines the terms and conditions of the release and is signed by all parties involved. The purpose of a Texas Partial Release of Mortgage / Deed of Trust on Undivided Leasehold Interest is to allow for the transfer of ownership or financing of a specific portion of the property. By releasing the mortgage or deed of trust on that particular portion, the property owner or buyer can proceed with their intended actions without hindrance. Keywords: Texas, Partial Release, Mortgage, Deed of Trust, Undivided, Leasehold Interest, Voluntary, Involuntary, Release Agreement, Property Ownership, Financing.