West 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 Partial Release of Mortgage or Deed of Trust on a Mineral/Royalty Interest Sold by Granter in West Virginia refers to a legal document that releases a specific portion or interest held by a lender on the mineral or royalty rights sold by the granter. This document is essential for both parties involved in the transaction to ensure that the lender releases their claim on the specific portion of the mineral or royalty interest that has been sold. In West Virginia, there are distinct types of Partial Release of Mortgage or Deed of Trust on Mineral/Royalty Interest Sold by Granter. Some of these include: 1. Partial Release of Mortgage on a Mineral Interest: This type of release is used when the granter has sold a portion of their mineral rights to a buyer, and the lender (mortgagee) agrees to release their mortgage claim on that specific portion of the mineral interest. 2. Partial Release of Deed of Trust on a Royalty Interest: When the granter sells a portion of their royalty interest, this release type allows the granter to request the lender (beneficiary) to release their claim on the specific portion of the royalty interest that has been sold. 3. Partial Release of Mortgage/Deed of Trust on Mineral and Royalty Interest: In certain cases, a granter may sell both their mineral and royalty interests separately. In such situations, this type of release is utilized to release the lender's claim on the specific portion of both the mineral and royalty interests sold by the granter. The Partial Release of Mortgage or Deed of Trust on a Mineral/Royalty Interest Sold by Granter in West Virginia includes crucial information such as the names of the parties involved, the property description, the specific amount or percentage of the mineral or royalty interest being released, and the legal description of the released portion. It also specifies the obligations of both parties, the effective date of the release, and any other relevant provisions or conditions. By properly executing this document, the granter can ensure that the lender's claim on the sold portion of their mineral or royalty interest is effectively released, providing clarity and legal certainty to both parties involved.

A Partial Release of Mortgage or Deed of Trust on a Mineral/Royalty Interest Sold by Granter in West Virginia refers to a legal document that releases a specific portion or interest held by a lender on the mineral or royalty rights sold by the granter. This document is essential for both parties involved in the transaction to ensure that the lender releases their claim on the specific portion of the mineral or royalty interest that has been sold. In West Virginia, there are distinct types of Partial Release of Mortgage or Deed of Trust on Mineral/Royalty Interest Sold by Granter. Some of these include: 1. Partial Release of Mortgage on a Mineral Interest: This type of release is used when the granter has sold a portion of their mineral rights to a buyer, and the lender (mortgagee) agrees to release their mortgage claim on that specific portion of the mineral interest. 2. Partial Release of Deed of Trust on a Royalty Interest: When the granter sells a portion of their royalty interest, this release type allows the granter to request the lender (beneficiary) to release their claim on the specific portion of the royalty interest that has been sold. 3. Partial Release of Mortgage/Deed of Trust on Mineral and Royalty Interest: In certain cases, a granter may sell both their mineral and royalty interests separately. In such situations, this type of release is utilized to release the lender's claim on the specific portion of both the mineral and royalty interests sold by the granter. The Partial Release of Mortgage or Deed of Trust on a Mineral/Royalty Interest Sold by Granter in West Virginia includes crucial information such as the names of the parties involved, the property description, the specific amount or percentage of the mineral or royalty interest being released, and the legal description of the released portion. It also specifies the obligations of both parties, the effective date of the release, and any other relevant provisions or conditions. By properly executing this document, the granter can ensure that the lender's claim on the sold portion of their mineral or royalty interest is effectively released, providing clarity and legal certainty to both parties involved.