Virginia 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 Virginia Partial Release of Mortgage or Deed of Trust on a Mineral/Royalty Interest Sold by Granter is a legal document that allows a property owner to release a portion of their mortgage or deed of trust on a specific mineral or royalty interest that they have sold or transferred to another party. This partial release is typically executed when the granter has sold only a portion of their mineral or royalty interest, while still maintaining ownership of the remaining portion on the property. Keywords related to this topic may include: 1. Virginia Partial Release of Mortgage: This refers to the specific legal document used in the state of Virginia to release a portion of a mortgage on a mineral or royalty interest sold by the granter. It outlines the terms and conditions of the release and ensures that the deed of trust is updated accordingly. 2. Virginia Partial Release of Deed of Trust: This term denotes the legal document used in Virginia when releasing a portion of a deed of trust on a mineral or royalty interest sold by the granter. It clarifies the transfer of ownership of the interest and updates the property records accordingly. 3. Mineral Interest: Denotes the ownership interest in minerals, such as oil, gas, coal, or other natural resources, found beneath the surface of a property. The granter may sell a portion of this interest while retaining a percentage for themselves. 4. Royalty Interest: Refers to the entitlement of a property owner to receive a percentage of the revenue generated from the production of minerals on their property. This interest can also be sold in part by the granter, necessitating a partial release of the mortgage or deed of trust. 5. Granter: The individual or entity that originally granted or conveyed the property to another party and retains ownership of the mineral or royalty interest being sold in part. They are responsible for executing the partial release of mortgage or deed of trust. Different types of Virginia Partial Release of Mortgage / Deed of Trust on a Mineral/Royalty Interest Sold by Granter may include releases for specific percentages of the interest sold or releases relating to different mineral types, such as oil, gas, or coal. These documents must be customized to fit the unique circumstances of each transaction, ensuring accuracy in terms of ownership percentages and legal requirements within the state of Virginia. The exact naming conventions of these types may vary depending on the specific details and preferences of the parties involved.

A Virginia Partial Release of Mortgage or Deed of Trust on a Mineral/Royalty Interest Sold by Granter is a legal document that allows a property owner to release a portion of their mortgage or deed of trust on a specific mineral or royalty interest that they have sold or transferred to another party. This partial release is typically executed when the granter has sold only a portion of their mineral or royalty interest, while still maintaining ownership of the remaining portion on the property. Keywords related to this topic may include: 1. Virginia Partial Release of Mortgage: This refers to the specific legal document used in the state of Virginia to release a portion of a mortgage on a mineral or royalty interest sold by the granter. It outlines the terms and conditions of the release and ensures that the deed of trust is updated accordingly. 2. Virginia Partial Release of Deed of Trust: This term denotes the legal document used in Virginia when releasing a portion of a deed of trust on a mineral or royalty interest sold by the granter. It clarifies the transfer of ownership of the interest and updates the property records accordingly. 3. Mineral Interest: Denotes the ownership interest in minerals, such as oil, gas, coal, or other natural resources, found beneath the surface of a property. The granter may sell a portion of this interest while retaining a percentage for themselves. 4. Royalty Interest: Refers to the entitlement of a property owner to receive a percentage of the revenue generated from the production of minerals on their property. This interest can also be sold in part by the granter, necessitating a partial release of the mortgage or deed of trust. 5. Granter: The individual or entity that originally granted or conveyed the property to another party and retains ownership of the mineral or royalty interest being sold in part. They are responsible for executing the partial release of mortgage or deed of trust. Different types of Virginia Partial Release of Mortgage / Deed of Trust on a Mineral/Royalty Interest Sold by Granter may include releases for specific percentages of the interest sold or releases relating to different mineral types, such as oil, gas, or coal. These documents must be customized to fit the unique circumstances of each transaction, ensuring accuracy in terms of ownership percentages and legal requirements within the state of Virginia. The exact naming conventions of these types may vary depending on the specific details and preferences of the parties involved.