Washington 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 Washington Partial Release of Mortgage/Deed of Trust on a Mineral/Royalty Interest Sold by Granter is a legal document that pertains to the release of a portion of the secured property from a mortgage or deed of trust. This partial release applies specifically to mineral or royalty interests that have been sold by the granter. When individuals or entities sell a portion of their mineral or royalty interests, it is customary to have a release document in place to reflect the change in ownership and release of the previously secured portion. This ensures that the new owner has clear ownership rights over the sold interests and that any remaining interests are still subject to the original mortgage or deed of trust. The Washington State law recognizes various types of Washington Partial Release of Mortgage/Deed of Trust on a Mineral/Royalty Interest Sold by Granter, including: 1. Partial Release of Mortgage on a Mineral Interest: This type of release applies when the granter sells only a portion of the mineral interest but retains ownership over the remaining interests. The release removes the portion sold from the original mortgage agreement, allowing the granter to transfer clear title to the buyer. 2. Partial Release of Deed of Trust on a Mineral Interest: Similar to the above, this release pertains to a deed of trust rather than a mortgage. It is used when the granter sells a portion of their mineral interest and wishes to release that portion from the recorded deed of trust, while the remaining interest is still subject to the deed. 3. Partial Release of Mortgage on a Royalty Interest: This release differs from the mineral interest release as it applies specifically to royalty interests. When a granter sells a portion of their royalty interests, this release document ensures the removal of the sold portion from the original mortgage, conveying clear ownership rights to the buyer. 4. Partial Release of Deed of Trust on a Royalty Interest: Similarly, this release concerns the release of a portion of the granter's royalty interests from a recorded deed of trust, reflecting the sale of these interests to a new owner. By utilizing an appropriate Washington Partial Release of Mortgage/Deed of Trust on a Mineral/Royalty Interest Sold by Granter, both the granter and the buyer can protect their respective interests and maintain legal clarity on their ownership rights. It is crucial to consult with legal professionals or trusted advisors knowledgeable in Washington State real estate law to ensure proper execution of this release document.

A Washington Partial Release of Mortgage/Deed of Trust on a Mineral/Royalty Interest Sold by Granter is a legal document that pertains to the release of a portion of the secured property from a mortgage or deed of trust. This partial release applies specifically to mineral or royalty interests that have been sold by the granter. When individuals or entities sell a portion of their mineral or royalty interests, it is customary to have a release document in place to reflect the change in ownership and release of the previously secured portion. This ensures that the new owner has clear ownership rights over the sold interests and that any remaining interests are still subject to the original mortgage or deed of trust. The Washington State law recognizes various types of Washington Partial Release of Mortgage/Deed of Trust on a Mineral/Royalty Interest Sold by Granter, including: 1. Partial Release of Mortgage on a Mineral Interest: This type of release applies when the granter sells only a portion of the mineral interest but retains ownership over the remaining interests. The release removes the portion sold from the original mortgage agreement, allowing the granter to transfer clear title to the buyer. 2. Partial Release of Deed of Trust on a Mineral Interest: Similar to the above, this release pertains to a deed of trust rather than a mortgage. It is used when the granter sells a portion of their mineral interest and wishes to release that portion from the recorded deed of trust, while the remaining interest is still subject to the deed. 3. Partial Release of Mortgage on a Royalty Interest: This release differs from the mineral interest release as it applies specifically to royalty interests. When a granter sells a portion of their royalty interests, this release document ensures the removal of the sold portion from the original mortgage, conveying clear ownership rights to the buyer. 4. Partial Release of Deed of Trust on a Royalty Interest: Similarly, this release concerns the release of a portion of the granter's royalty interests from a recorded deed of trust, reflecting the sale of these interests to a new owner. By utilizing an appropriate Washington Partial Release of Mortgage/Deed of Trust on a Mineral/Royalty Interest Sold by Granter, both the granter and the buyer can protect their respective interests and maintain legal clarity on their ownership rights. It is crucial to consult with legal professionals or trusted advisors knowledgeable in Washington State real estate law to ensure proper execution of this release document.