Wayne Michigan 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: Wayne
• 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 Partial Release of Mortgage, also known as a Partial Release of Deed of Trust, is a legal document used in Wayne, Michigan, when a property owner sells a portion of their mineral or royalty interest to a grantee. This document releases the mortgage or deed of trust on the specific portion of the property that has been sold. In Wayne, Michigan, there are different types of Partial Release of Mortgage / Deed of Trust on A Mineral / Royalty Interest Sold by Granter. These may include: 1. Partial Release of Mortgage on Mineral Interest: This type of release is used when the property owner sells a portion of their mineral interest to a grantee. It releases the mortgage on the specific portion of the property that is sold, allowing the grantee to have clear ownership and control over the mineral rights. 2. Partial Release of Deed of Trust on Royalty Interest: In cases where the property owner sells a portion of their royalty interest, this type of release is utilized. It releases the deed of trust on the specific portion of the property that has been sold, enabling the grantee to assert their rights over the royalties generated from the specific portion of the property. 3. Partial Release of Mortgage on Mineral and Royalty Interest: This is a combined release used when the property owner sells both a portion of their mineral interest and royalty interest. It releases the mortgage on the specific portion of the property that is sold, granting the grantee clear ownership and control over both the minerals and the royalties from the respective portion of the property. These different types of Partial Release of Mortgage / Deed of Trust provide legal clarity and security for both the granter and grantee involved in the transaction. By releasing the mortgage or deed of trust on the specific portion of the property that has been sold, it ensures that the grantee has a clean and marketable interest in the minerals or royalties, allowing for easy transferability and utilization of those interests. It is important to consult with a real estate attorney or legal professional in Wayne, Michigan, to ensure that all necessary documents are properly prepared, executed, and recorded when dealing with a Partial Release of Mortgage / Deed of Trust on A Mineral / Royalty Interest Sold by Granter. Compliance with local laws and regulations is crucial to protect the rights and interests of all parties involved.

A Partial Release of Mortgage, also known as a Partial Release of Deed of Trust, is a legal document used in Wayne, Michigan, when a property owner sells a portion of their mineral or royalty interest to a grantee. This document releases the mortgage or deed of trust on the specific portion of the property that has been sold. In Wayne, Michigan, there are different types of Partial Release of Mortgage / Deed of Trust on A Mineral / Royalty Interest Sold by Granter. These may include: 1. Partial Release of Mortgage on Mineral Interest: This type of release is used when the property owner sells a portion of their mineral interest to a grantee. It releases the mortgage on the specific portion of the property that is sold, allowing the grantee to have clear ownership and control over the mineral rights. 2. Partial Release of Deed of Trust on Royalty Interest: In cases where the property owner sells a portion of their royalty interest, this type of release is utilized. It releases the deed of trust on the specific portion of the property that has been sold, enabling the grantee to assert their rights over the royalties generated from the specific portion of the property. 3. Partial Release of Mortgage on Mineral and Royalty Interest: This is a combined release used when the property owner sells both a portion of their mineral interest and royalty interest. It releases the mortgage on the specific portion of the property that is sold, granting the grantee clear ownership and control over both the minerals and the royalties from the respective portion of the property. These different types of Partial Release of Mortgage / Deed of Trust provide legal clarity and security for both the granter and grantee involved in the transaction. By releasing the mortgage or deed of trust on the specific portion of the property that has been sold, it ensures that the grantee has a clean and marketable interest in the minerals or royalties, allowing for easy transferability and utilization of those interests. It is important to consult with a real estate attorney or legal professional in Wayne, Michigan, to ensure that all necessary documents are properly prepared, executed, and recorded when dealing with a Partial Release of Mortgage / Deed of Trust on A Mineral / Royalty Interest Sold by Granter. Compliance with local laws and regulations is crucial to protect the rights and interests of all parties involved.