A Travis Texas Partial Release of Mortgage/Deed of Trust on a Mineral/Royalty Interest Sold by Granter is a legal document pertaining to the transfer of ownership or sale of a partial interest in mineral rights or royalties in Travis County, Texas. When a property owner decides to sell or transfer a partial interest in their mineral or royalty rights, they may have an existing mortgage or deed of trust on the property. To facilitate the sale, a Partial Release of Mortgage/Deed of Trust is required to release the lien on the specific portion of the mineral or royalty interest being transferred. This document protects both the buyer and the lending institution by acknowledging the partial release of the mortgage or deed of trust on the specified mineral or royalty interest held by the granter. It provides a clear record of the portion of the property no longer subject to the mortgage or deed of trust, ensuring that the buyer's ownership rights are free from any encumbrances related to the mortgage or deed of trust. There are different types of Travis Texas Partial Release of Mortgage/Deed of Trust on a Mineral/Royalty Interest Sold by Granter, depending on the nature of the transaction and the specific terms agreed upon by the parties involved. Some of these variations include: 1. Partial Release of Mortgage/Deed of Trust — Fixed Fractional Interest: This type of release specifies a fixed fraction, such as a 1/2 or 1/4 interest, being released from the existing mortgage or deed of trust. The remaining interest in the property continues to be encumbered by the mortgage or deed of trust. 2. Partial Release of Mortgage/Deed of Trust — Dollar Amount Interest: In this case, a specific dollar amount of the mineral or royalty interest is released from the mortgage or deed of trust. The remaining interest remains subject to the mortgage or deed of trust. 3. Partial Release of Mortgage/Deed of Trust — Specific Tract or Parcel: This type of release applies when the sale or transfer pertains to a specific tract or parcel of the property. The mortgage or deed of trust is released from the identified tract or parcel, while the remainder of the property remains encumbered. 4. Partial Release of Mortgage/Deed of Trust — Percentage Interest: Here, a certain percentage of the mineral or royalty interest is released from the mortgage or deed of trust. The remaining percentage interest remains under the obligations of the mortgage or deed of trust. It is crucial to consult with a knowledgeable attorney or real estate professional familiar with Travis County, Texas, and its specific regulations to ensure the proper drafting and execution of a Travis Texas Partial Release of Mortgage/Deed of Trust on a Mineral/Royalty Interest Sold by Granter. This will ensure compliance with all legal requirements and protect the interests of both the buyer and lending institution involved in the transaction.
Travis Texas Partial Release of Mortgage / Deed of Trust on A Mineral / Royalty Interest Sold by Grantor
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