Franklin Ohio Partial Release of Mortgage / Deed of Trust on A Mineral / Royalty Interest Sold by Grantor

• Category: Oil Gas and Minerals - Releases
• State: Multi-State
• County: Franklin
• 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. In Franklin, Ohio, a Partial Release of Mortgage or Deed of Trust on a Mineral/Royalty Interest Sold by the Granter is a legal document that pertains to the release or relinquishment of a portion of a mortgage or deed of trust on a mineral or royalty interest. This release occurs when the granter sells a part of their interest in these assets, providing them with the freedom to transfer or dispose of the property with granted rights to a third party. It's crucial to understand the various types of Partial Release of Mortgage or Deed of Trust, which include: 1. Partial Release on a Mineral Interest: This type of release specifically pertains to the partial release of a mortgage or deed of trust on a specific portion of the granter's mineral interest. It allows the granter to retain a specific percentage or portion of their mineral rights while transferring the remaining interest to a buyer or third party. 2. Partial Release on a Royalty Interest: This type of release is applicable when only a portion of the granter's royalty interest is being sold or transferred. Similar to a mineral interest release, it enables the granter to keep a specific percentage or portion of the royalty interest while transferring the remaining portion to a buyer or third party. 3. Partial Release on a Combined Mineral/Royalty Interest: In certain cases, the granter may possess both mineral and royalty interests in a property. In such instances, a partial release might involve the separation or division of both interests, allowing the granter to transfer a specific percentage or portion of the mineral and royalty interests to a buyer while maintaining ownership of the remaining portion. While these are the primary types of Partial Release of Mortgage or Deed of Trust on a Mineral/Royalty Interest Sold by Granter, it's important to note that specific circumstances and agreements may lead to variations or alterations in this terminology. It is advisable to consult with legal experts or professionals experienced in real estate and property law to ensure proper documentation and compliance with regulations.

In Franklin, Ohio, a Partial Release of Mortgage or Deed of Trust on a Mineral/Royalty Interest Sold by the Granter is a legal document that pertains to the release or relinquishment of a portion of a mortgage or deed of trust on a mineral or royalty interest. This release occurs when the granter sells a part of their interest in these assets, providing them with the freedom to transfer or dispose of the property with granted rights to a third party. It's crucial to understand the various types of Partial Release of Mortgage or Deed of Trust, which include: 1. Partial Release on a Mineral Interest: This type of release specifically pertains to the partial release of a mortgage or deed of trust on a specific portion of the granter's mineral interest. It allows the granter to retain a specific percentage or portion of their mineral rights while transferring the remaining interest to a buyer or third party. 2. Partial Release on a Royalty Interest: This type of release is applicable when only a portion of the granter's royalty interest is being sold or transferred. Similar to a mineral interest release, it enables the granter to keep a specific percentage or portion of the royalty interest while transferring the remaining portion to a buyer or third party. 3. Partial Release on a Combined Mineral/Royalty Interest: In certain cases, the granter may possess both mineral and royalty interests in a property. In such instances, a partial release might involve the separation or division of both interests, allowing the granter to transfer a specific percentage or portion of the mineral and royalty interests to a buyer while maintaining ownership of the remaining portion. While these are the primary types of Partial Release of Mortgage or Deed of Trust on a Mineral/Royalty Interest Sold by Granter, it's important to note that specific circumstances and agreements may lead to variations or alterations in this terminology. It is advisable to consult with legal experts or professionals experienced in real estate and property law to ensure proper documentation and compliance with regulations.