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

• Category: Oil Gas and Minerals - Releases
• State: Multi-State
• City: Chicago
• 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 Chicago Illinois Partial Release of Mortgage/Deed of Trust on a Mineral/Royalty Interest Sold by Granter represents several legal documents that pertain to the release of a portion of a mortgage or deed of trust on a mineral or royalty interest in Chicago, Illinois. This release indicates that the granter has sold a part of their rights or ownership in the property and is therefore releasing the corresponding mortgage or deed of trust on that specific portion. When it comes to the different types of Chicago Illinois Partial Release of Mortgage/Deed of Trust on a Mineral/Royalty Interest Sold by Granter, there are a few variations that may exist depending on the specific circumstances. 1. Partial Release of Mortgage on a Mineral Interest: This document addresses a situation where the granter has sold a part of their mineral interest in a property and seeks to partially release the corresponding mortgage that was originally placed on the entire property. This release ensures that the remaining portion of the property remains encumbered by the mortgage. 2. Partial Release of Deed of Trust on a Royalty Interest: This type of release is applicable when the granter has sold a portion of their royalty interest in a property. The deed of trust, which initially secured the granter's interests in the entire property, is partially released to reflect the sale and transfer of a specific portion of the royalty interest. 3. Partial Release of Mortgage on a Mineral/Royalty Interest: In some cases, a granter may have sold both a mineral interest and a royalty interest in a property. This release combines the aspects of the first two types, addressing the partial release of a mortgage or deed of trust on both the mineral and royalty interests that were sold. These Chicago Illinois Partial Release of Mortgage/Deed of Trust on a Mineral/Royalty Interest Sold by Granter documents play a crucial role in legally reflecting the changes in ownership and ensuring the appropriate parties are released from their respective obligations on the sold portion of the property. It is crucial to consult with a qualified attorney or legal professional to ensure the correct documentation is prepared and filed according to the specific property laws and regulations in Chicago, Illinois.

A Chicago Illinois Partial Release of Mortgage/Deed of Trust on a Mineral/Royalty Interest Sold by Granter represents several legal documents that pertain to the release of a portion of a mortgage or deed of trust on a mineral or royalty interest in Chicago, Illinois. This release indicates that the granter has sold a part of their rights or ownership in the property and is therefore releasing the corresponding mortgage or deed of trust on that specific portion. When it comes to the different types of Chicago Illinois Partial Release of Mortgage/Deed of Trust on a Mineral/Royalty Interest Sold by Granter, there are a few variations that may exist depending on the specific circumstances. 1. Partial Release of Mortgage on a Mineral Interest: This document addresses a situation where the granter has sold a part of their mineral interest in a property and seeks to partially release the corresponding mortgage that was originally placed on the entire property. This release ensures that the remaining portion of the property remains encumbered by the mortgage. 2. Partial Release of Deed of Trust on a Royalty Interest: This type of release is applicable when the granter has sold a portion of their royalty interest in a property. The deed of trust, which initially secured the granter's interests in the entire property, is partially released to reflect the sale and transfer of a specific portion of the royalty interest. 3. Partial Release of Mortgage on a Mineral/Royalty Interest: In some cases, a granter may have sold both a mineral interest and a royalty interest in a property. This release combines the aspects of the first two types, addressing the partial release of a mortgage or deed of trust on both the mineral and royalty interests that were sold. These Chicago Illinois Partial Release of Mortgage/Deed of Trust on a Mineral/Royalty Interest Sold by Granter documents play a crucial role in legally reflecting the changes in ownership and ensuring the appropriate parties are released from their respective obligations on the sold portion of the property. It is crucial to consult with a qualified attorney or legal professional to ensure the correct documentation is prepared and filed according to the specific property laws and regulations in Chicago, Illinois.