Wisconsin 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 Wisconsin Partial Release of Mortgage or Deed of Trust on a Mineral/Royalty Interest Sold by Granter is a legal document that allows the Granter to release a portion of their interest in a mineral or royalty property from the mortgage or deed of trust. This partial release serves to remove a specific portion of the property from the encumbrance or lien associated with the mortgage or deed of trust. Wisconsin's law recognizes the importance of mineral and royalty interests and provides a mechanism for individuals to sell a portion of their interest while still keeping a stake in the property. This can be beneficial for individuals who wish to retain a percentage of the profits generated from the mineral or royalty property while alleviating their financial burdens through the sale of a portion of the interest. The Wisconsin Partial Release of Mortgage or Deed of Trust on a Mineral/Royalty Interest Sold by Granter allows for a clear and legal transfer of ownership rights for the portion being sold. The document will typically include the following essential details: 1. Parties Involved: The names and contact information of both the Granter (the party releasing the interest) and the Grantee (the party acquiring the interest). 2. Description of Interest: A detailed description of the specific mineral or royalty interest being sold, including any identifying information such as property address, legal description, or identification number. 3. Percentage or Fraction Released: The specific percentage or fraction of the interest being released from the mortgage or deed of trust. This ensures that the partial release is clear and defines the extent of the transfer. 4. Consideration: The amount or value exchanged between the Granter and Grantee for the portion of the interest being sold. This can be monetary compensation, other property, or a combination of both. 5. Legal Language: The document will include standard legal language indicating the Granter's intent to sell a portion of their interest, the release of the interest from the mortgage or deed of trust, and the acceptance of the terms by both parties involved. It is important to note that there aren't distinct types of Wisconsin Partial Release of Mortgage or Deed of Trust on a Mineral/Royalty Interest Sold by Granter. However, the terms and conditions of the partial release can vary based on the specific agreements made between the Granter and Grantee. These agreements may include provisions for future reimbursements, royalty payments, or any additional restrictions or protections for both parties. In summary, a Wisconsin Partial Release of Mortgage or Deed of Trust on a Mineral/Royalty Interest Sold by Granter is an essential legal document that allows for the partial transfer of ownership rights in a mineral or royalty property. By utilizing this document, individuals can sell a portion of their interest while retaining a stake in the property, ensuring a clear and legal transfer of ownership.

A Wisconsin Partial Release of Mortgage or Deed of Trust on a Mineral/Royalty Interest Sold by Granter is a legal document that allows the Granter to release a portion of their interest in a mineral or royalty property from the mortgage or deed of trust. This partial release serves to remove a specific portion of the property from the encumbrance or lien associated with the mortgage or deed of trust. Wisconsin's law recognizes the importance of mineral and royalty interests and provides a mechanism for individuals to sell a portion of their interest while still keeping a stake in the property. This can be beneficial for individuals who wish to retain a percentage of the profits generated from the mineral or royalty property while alleviating their financial burdens through the sale of a portion of the interest. The Wisconsin Partial Release of Mortgage or Deed of Trust on a Mineral/Royalty Interest Sold by Granter allows for a clear and legal transfer of ownership rights for the portion being sold. The document will typically include the following essential details: 1. Parties Involved: The names and contact information of both the Granter (the party releasing the interest) and the Grantee (the party acquiring the interest). 2. Description of Interest: A detailed description of the specific mineral or royalty interest being sold, including any identifying information such as property address, legal description, or identification number. 3. Percentage or Fraction Released: The specific percentage or fraction of the interest being released from the mortgage or deed of trust. This ensures that the partial release is clear and defines the extent of the transfer. 4. Consideration: The amount or value exchanged between the Granter and Grantee for the portion of the interest being sold. This can be monetary compensation, other property, or a combination of both. 5. Legal Language: The document will include standard legal language indicating the Granter's intent to sell a portion of their interest, the release of the interest from the mortgage or deed of trust, and the acceptance of the terms by both parties involved. It is important to note that there aren't distinct types of Wisconsin Partial Release of Mortgage or Deed of Trust on a Mineral/Royalty Interest Sold by Granter. However, the terms and conditions of the partial release can vary based on the specific agreements made between the Granter and Grantee. These agreements may include provisions for future reimbursements, royalty payments, or any additional restrictions or protections for both parties. In summary, a Wisconsin Partial Release of Mortgage or Deed of Trust on a Mineral/Royalty Interest Sold by Granter is an essential legal document that allows for the partial transfer of ownership rights in a mineral or royalty property. By utilizing this document, individuals can sell a portion of their interest while retaining a stake in the property, ensuring a clear and legal transfer of ownership.