Utah Partial Release of Mortgage / Deed of Trust on A Mineral / Royalty Interest Sold by Grantor

• Category: Oil Gas and Minerals - Releases
• State: Multi-State
• Control #: US-OG-130
• Format: Word; Rich Text

Description

If an owner of a mineral or royalty interest, whose interest is subject to a mortgage/deed of trust, desires to sell or convey an interest, it is appropriate to obtain a release of that lien as to the interest conveyed. This form addresses that situation. A Utah Partial Release of Mortgage or Deed of Trust on a Mineral / Royalty Interest Sold by Granter is a legal document that allows the borrower or granter to release a portion of their mortgage or deed of trust on a specific mineral or royalty interest that has been sold. This partial release is necessary when the granter sells a part of their interest in the mineral or royalty and wants to remove the corresponding lien on that specific portion. The purpose of this document is to ensure that the lender's security interest is updated and reflects the current ownership of the mineral or royalty interest. This allows the buyer of the interest to have a clear title and the remaining portion of the property to remain subject to the mortgage or deed of trust. There are different types of Utah Partial Release of Mortgage or Deed of Trust on a Mineral / Royalty Interest Sold by Granter, depending on the specific circumstances: 1. Partial Release on a Percentage Interest: This type of release is used when the granter sells a percentage interest in the mineral or royalty, dividing the ownership. The document will specify the exact percentage being released from the mortgage or deed of trust, ensuring that the lender's lien is updated accordingly. 2. Partial Release on a Specific Tract or Reservation: If the granter sells a specific tract or reservation within the mineral or royalty interest, this variation of the partial release will be used. It will detail the description of the tract or reservation being released from the mortgage or deed of trust, ensuring the lender's lien only remains on the remaining portion. 3. Partial Release on a Specific Lease or Well: In some cases, the granter may sell a particular lease or well within the mineral or royalty interest. This type of partial release will focus on releasing the mortgage or deed of trust on that specific lease or well, updating the lender's security interest accordingly. When preparing a Utah Partial Release of Mortgage or Deed of Trust on a Mineral / Royalty Interest Sold by Granter, it is crucial to include relevant keywords within the document to ensure its accuracy and searchability. Some keywords that should be included are: Utah, partial release, mortgage, deed of trust, mineral interest, royalty interest, granter, borrower, lien, sold, ownership, release, percentage interest, specific tract, reservation, lease, well, security interest.

A Utah Partial Release of Mortgage or Deed of Trust on a Mineral / Royalty Interest Sold by Granter is a legal document that allows the borrower or granter to release a portion of their mortgage or deed of trust on a specific mineral or royalty interest that has been sold. This partial release is necessary when the granter sells a part of their interest in the mineral or royalty and wants to remove the corresponding lien on that specific portion. The purpose of this document is to ensure that the lender's security interest is updated and reflects the current ownership of the mineral or royalty interest. This allows the buyer of the interest to have a clear title and the remaining portion of the property to remain subject to the mortgage or deed of trust. There are different types of Utah Partial Release of Mortgage or Deed of Trust on a Mineral / Royalty Interest Sold by Granter, depending on the specific circumstances: 1. Partial Release on a Percentage Interest: This type of release is used when the granter sells a percentage interest in the mineral or royalty, dividing the ownership. The document will specify the exact percentage being released from the mortgage or deed of trust, ensuring that the lender's lien is updated accordingly. 2. Partial Release on a Specific Tract or Reservation: If the granter sells a specific tract or reservation within the mineral or royalty interest, this variation of the partial release will be used. It will detail the description of the tract or reservation being released from the mortgage or deed of trust, ensuring the lender's lien only remains on the remaining portion. 3. Partial Release on a Specific Lease or Well: In some cases, the granter may sell a particular lease or well within the mineral or royalty interest. This type of partial release will focus on releasing the mortgage or deed of trust on that specific lease or well, updating the lender's security interest accordingly. When preparing a Utah Partial Release of Mortgage or Deed of Trust on a Mineral / Royalty Interest Sold by Granter, it is crucial to include relevant keywords within the document to ensure its accuracy and searchability. Some keywords that should be included are: Utah, partial release, mortgage, deed of trust, mineral interest, royalty interest, granter, borrower, lien, sold, ownership, release, percentage interest, specific tract, reservation, lease, well, security interest.