Phoenix Arizona 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: Phoenix
• 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 Phoenix Arizona Partial Release of Mortgage, also known as a Deed of Trust, is a legal document that signifies the partial release of a mortgage or deed of trust on a mineral or royalty interest. When an individual or entity sells off a portion of their mineral or royalty interest, they may choose to release a specific portion of the mortgage or deed of trust related to that particular interest. This type of partial release is commonly used in cases where the property owner retains a portion of the mineral or royalty interest and wants to release the mortgage or deed of trust only on the portion being sold. By doing so, the granter can free up the sold portion from any encumbrances, while retaining ownership of the remaining portion. The Phoenix Arizona Partial Release of Mortgage / Deed of Trust on A Mineral / Royalty Interest Sold by Granter serves as evidence that the granter has relinquished their mortgage or deed of trust on the specified portion of the mineral or royalty interest. This document provides legal clarity and ensures that all parties involved are aware of the changes in ownership and release of encumbrances. In Phoenix Arizona, there can be different types of Partial Release of Mortgage / Deed of Trust on A Mineral / Royalty Interest Sold by Granter, depending on the specific details of the transaction. Some of these variations may include: 1. Partial Release of Mortgage on a Mineral Interest: This type of release pertains to situations where the granter is only selling a portion of their mineral interest, and wishes to release the corresponding mortgage or deed of trust. 2. Partial Release of Deed of Trust on a Royalty Interest: In cases where the granter decides to sell only a part of their royalty interest, a partial release of the deed of trust may be executed to release the encumbrances on that specific portion. 3. Partial Release of Mortgage / Deed of Trust on Multiple Tracts: This type of release occurs when the granter sells different portions of their mineral or royalty interest across multiple tracts. Each specific portion's release is documented separately to avoid any ambiguities. It is important to consult legal professionals or real estate experts experienced in the Phoenix Arizona jurisdiction to ensure that the correct type of partial release is used and all legal requirements are met.

A Phoenix Arizona Partial Release of Mortgage, also known as a Deed of Trust, is a legal document that signifies the partial release of a mortgage or deed of trust on a mineral or royalty interest. When an individual or entity sells off a portion of their mineral or royalty interest, they may choose to release a specific portion of the mortgage or deed of trust related to that particular interest. This type of partial release is commonly used in cases where the property owner retains a portion of the mineral or royalty interest and wants to release the mortgage or deed of trust only on the portion being sold. By doing so, the granter can free up the sold portion from any encumbrances, while retaining ownership of the remaining portion. The Phoenix Arizona Partial Release of Mortgage / Deed of Trust on A Mineral / Royalty Interest Sold by Granter serves as evidence that the granter has relinquished their mortgage or deed of trust on the specified portion of the mineral or royalty interest. This document provides legal clarity and ensures that all parties involved are aware of the changes in ownership and release of encumbrances. In Phoenix Arizona, there can be different types of Partial Release of Mortgage / Deed of Trust on A Mineral / Royalty Interest Sold by Granter, depending on the specific details of the transaction. Some of these variations may include: 1. Partial Release of Mortgage on a Mineral Interest: This type of release pertains to situations where the granter is only selling a portion of their mineral interest, and wishes to release the corresponding mortgage or deed of trust. 2. Partial Release of Deed of Trust on a Royalty Interest: In cases where the granter decides to sell only a part of their royalty interest, a partial release of the deed of trust may be executed to release the encumbrances on that specific portion. 3. Partial Release of Mortgage / Deed of Trust on Multiple Tracts: This type of release occurs when the granter sells different portions of their mineral or royalty interest across multiple tracts. Each specific portion's release is documented separately to avoid any ambiguities. It is important to consult legal professionals or real estate experts experienced in the Phoenix Arizona jurisdiction to ensure that the correct type of partial release is used and all legal requirements are met.