Nassau New York 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: Nassau
• 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 Nassau County, New York, Partial Release of Mortgage/Deed of Trust on a Mineral/Royalty Interest Sold by Granter is a legal document used to release a specific portion or interest in a mineral or royalty property from a mortgage or deed of trust. This type of release is typically utilized in situations where the property owner has sold a portion of their mineral or royalty rights to another party. Keywords: — Nassau County: Refers to the jurisdiction where the release is being executed, which is Nassau County, New York. — New York: Indicates that the release is governed by the laws and regulations of the state of New York. — Partial Release: This document pertains to the partial release of a mortgage or deed of trust, meaning only a portion of the property is released. — Mortgage: Refers to the property owner's financial obligation secured by the property, which is being partially released. — Deed of Trust: Similar to a mortgage, it is a legal document used to secure a loan with the property acting as collateral. — Mineral Interest: Denotes the ownership stake in the minerals present in the property, such as oil, gas, or coal. — Royalty Interest: Refers to the ownership stake in the revenue generated from the extraction and use of the minerals on the property. Different types of Nassau New York Partial Release of Mortgage/Deed of Trust on A Mineral/Royalty Interest Sold by Granter may include: 1. Partial Release of Mortgage/Deed of Trust on X Mineral Interest Sold by Granter: This release indicates a specific percentage of the mineral interest that the granter has sold, thereby releasing it from the mortgage or deed of trust. 2. Partial Release of Mortgage/Deed of Trust on X Royalty Interest Sold by Granter: Similar to the previous type, this release pertains to a specific percentage of the royalty interest that the granter has sold. 3. Partial Release of Mortgage/Deed of Trust on Mineral Interest in X Mineral Type Sold by Granter: This release specifies the release of a particular mineral type, such as oil, gas, or coal, from the mortgage or deed of trust. 4. Partial Release of Mortgage/Deed of Trust on Royalty Interest in X Revenue Source Sold by Granter: This release pertains to the release of a royalty interest earned from a specific revenue source related to the minerals, such as lease payments or production royalties, which are being sold by the granter. It is crucial to consult with a legal professional to ensure the accurate drafting and execution of a Nassau New York Partial Release of Mortgage/Deed of Trust on A Mineral/Royalty Interest Sold by Granter, as specific requirements and considerations may vary based on individual circumstances and applicable laws.

A Nassau County, New York, Partial Release of Mortgage/Deed of Trust on a Mineral/Royalty Interest Sold by Granter is a legal document used to release a specific portion or interest in a mineral or royalty property from a mortgage or deed of trust. This type of release is typically utilized in situations where the property owner has sold a portion of their mineral or royalty rights to another party. Keywords: — Nassau County: Refers to the jurisdiction where the release is being executed, which is Nassau County, New York. — New York: Indicates that the release is governed by the laws and regulations of the state of New York. — Partial Release: This document pertains to the partial release of a mortgage or deed of trust, meaning only a portion of the property is released. — Mortgage: Refers to the property owner's financial obligation secured by the property, which is being partially released. — Deed of Trust: Similar to a mortgage, it is a legal document used to secure a loan with the property acting as collateral. — Mineral Interest: Denotes the ownership stake in the minerals present in the property, such as oil, gas, or coal. — Royalty Interest: Refers to the ownership stake in the revenue generated from the extraction and use of the minerals on the property. Different types of Nassau New York Partial Release of Mortgage/Deed of Trust on A Mineral/Royalty Interest Sold by Granter may include: 1. Partial Release of Mortgage/Deed of Trust on X Mineral Interest Sold by Granter: This release indicates a specific percentage of the mineral interest that the granter has sold, thereby releasing it from the mortgage or deed of trust. 2. Partial Release of Mortgage/Deed of Trust on X Royalty Interest Sold by Granter: Similar to the previous type, this release pertains to a specific percentage of the royalty interest that the granter has sold. 3. Partial Release of Mortgage/Deed of Trust on Mineral Interest in X Mineral Type Sold by Granter: This release specifies the release of a particular mineral type, such as oil, gas, or coal, from the mortgage or deed of trust. 4. Partial Release of Mortgage/Deed of Trust on Royalty Interest in X Revenue Source Sold by Granter: This release pertains to the release of a royalty interest earned from a specific revenue source related to the minerals, such as lease payments or production royalties, which are being sold by the granter. It is crucial to consult with a legal professional to ensure the accurate drafting and execution of a Nassau New York Partial Release of Mortgage/Deed of Trust on A Mineral/Royalty Interest Sold by Granter, as specific requirements and considerations may vary based on individual circumstances and applicable laws.