Bexar Texas Deed of Trust, Mortgage, Security Agreement, Assignment of Production, and Financing Statement of Oil and Gas Properties including After-Acquired Title are legal instruments used in the oil and gas industry to establish rights, security, and financing for the exploration and production of oil and gas resources. These documents play a crucial role in ensuring the smooth operation and protection of interests in all parties involved. The Bexar Texas Deed of Trust serves as a lien on the oil and gas properties, providing security for the repayment of a debt or loan. It grants the lender a legal interest in the property, allowing them to foreclose and sell it in case of default. The Mortgage is another type of security agreement that allows the lender to hold a lien on the property until the loan is fully repaid. It acts as a legal instrument to protect the lender's interest in the oil and gas properties. The Security Agreement is a broader document that covers a wide range of collateral, including oil and gas properties. It gives the lender the right to take possession of and sell the property if the borrower fails to fulfill their obligations under the loan. The Assignment of Production is a document that transfers the right to receive future production revenues from the oil and gas properties. It allows the assignee to collect the payments directly, ensuring the proper distribution of proceeds. The Financing Statement of Oil and Gas Properties is a document filed with the relevant authorities to establish a lender's security interest in the oil and gas properties. It notifies other potential lenders of the existing lien or security interest. When it comes to After-Acquired Title, it refers to the rights and ownership of the oil and gas properties acquired by the borrower after the initial loan agreement. To address this, specific clauses or amendments may be added to the Deed of Trust or Mortgage to ensure that the lender's security interest extends to any additional properties obtained by the borrower. It is important to note that the exact names of these instruments may vary depending on the specific jurisdiction and the involved parties. Therefore, it is recommended to consult with legal professionals familiar with Bexar County, Texas laws to ensure compliance with local regulations and to determine the specific titles and forms of these legal documents.
Bexar Texas Deed of Trust, Mortgage, Security Agreement, Assignment of Production, and Financing Statement of Oil and Gas Properties including After - Acquired Title
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FAQ
Collateral Assignment of Deeds of Trust means that agreement executed by Borrower in favor of Lender in which Borrower collaterally assigns to Lender all of the Borrower's rights, title and interest in and to those deeds of trust which secure repayment of the Pledged Accounts.
A mortgage note provides a description of the mortgage. It's the document that states how you'll repay your loan, and it uses your home as collateral.
Tip. A security instrument is a legal document giving the bank a security interest in the property. It can be a mortgage, giving the lender a lien on the property, or a deed of trust, whereby a trustee holds the deed for the lender until you finish paying off the loan.
Lenders, whether banks or individual sellers, typically require the persons who are borrowing money in order to finance the purchase of real estate to sign a "note" and a "security instrument." A note is a written, unconditional promise to pay a certain sum of money at a certain time or within a certain period of time.
Security Instrument . A written instrument creating a valid first lien on a Mortgaged Property securing a Mortgage Note, which may be any applicable form of mortgage, deed of trust, deed to secure debt or security deed, including any riders or addenda thereto.
This document may be called the Security Instrument, Deed of Trust, or Mortgage. When you sign this document, you are giving the lender the right to take your property by foreclosure if you fail to pay your mortgage according to the terms you've agreed to.
The Deed of Trust (or Mortgage or Security Instrument) is a legal document that grants the lender the rights to take the property if the borrower goes into default and does not pay under the terms of the Note. The lender holds title to the property until the borrower has repaid the debt in full.
Examples of collateral documents are a security agreement, guarantee and collateral agreement, pledge agreement, deposit account control agreement, securities account control agreement, mortgage, and UCC-1s.
For purpose of Article 9 of the Uniform Commercial Code in effect in the State of California, the Borrower is the Debtor, Lender is the Secured Party and this Deed of Trust constitutes a Financing Statement.
What Is a Deed of Trust? A deed of trust, like a mortgage, pledges real property to secure a loan. This document is used instead of a mortgage in some states.