Bexar Texas Partial Release of Lien on Assigned Overriding Royalty Interest

• Category: Oil Gas and Minerals - Releases
• State: Multi-State
• County: Bexar
• Control #: US-OG-406
• Format: Word; Rich Text

Description

This form of release is used when Lienholder releases, relinquishes, and surrenders to Mortgagor/ Grantor's Assignee all of Lienholder's rights, claims, and liens under the Mortgage/Deed of Trust in and to an undivided overriding royalty interest. A Bexar Texas Partial Release of Lien on Assigned Overriding Royalty Interest refers to a legal document that releases a portion of the lien placed on an assigned overriding royalty interest in the lien holder in Bexar County, Texas. This type of release is commonly utilized in the oil and gas industry when parties want to release only a portion of the lien, rather than the entirety. The assigned overriding royalty interest refers to the right to receive a share of the revenue generated from the production of oil and gas on a particular property. This interest is often assigned or transferred to another party, creating a lien on the assigned interest. There can be different types of Bexar Texas Partial Release of Lien on Assigned Overriding Royalty Interest, based on specific scenarios or conditions. These may include: 1. Partial Release of Lien on Assigned Overriding Royalty Interest due to Partial Satisfaction: This type of release occurs when the lien holder agrees to release a portion of the lien due to a partial satisfaction of the debt or obligation secured by the lien. For example, if a specified amount of money has been paid towards the debt, the lien holder may release a proportional amount of the lien. 2. Partial Release of Lien on Assigned Overriding Royalty Interest with Specific Conditions: Sometimes, a partial release may have specific conditions attached. These conditions can vary depending on the agreement between the parties involved. For instance, the release may be subject to certain events, milestones, or future considerations, which determine the partial release of the lien. 3. Partial Release of Lien on Assigned Overriding Royalty Interest for Specific Time Period: In certain cases, a partial release of the lien may be granted for a specific duration. This can be useful when parties agree to release the lien for a limited time while retaining it for the remaining period or until certain conditions are met. The Bexar Texas Partial Release of Lien on Assigned Overriding Royalty Interest is crucial as it provides legal documentation to confirm the partial release and establishes the terms and conditions under which the release is being granted. This document protects the rights of both the lien holder and the assignee while ensuring transparency and clarity in the transaction.

A Bexar Texas Partial Release of Lien on Assigned Overriding Royalty Interest refers to a legal document that releases a portion of the lien placed on an assigned overriding royalty interest in the lien holder in Bexar County, Texas. This type of release is commonly utilized in the oil and gas industry when parties want to release only a portion of the lien, rather than the entirety. The assigned overriding royalty interest refers to the right to receive a share of the revenue generated from the production of oil and gas on a particular property. This interest is often assigned or transferred to another party, creating a lien on the assigned interest. There can be different types of Bexar Texas Partial Release of Lien on Assigned Overriding Royalty Interest, based on specific scenarios or conditions. These may include: 1. Partial Release of Lien on Assigned Overriding Royalty Interest due to Partial Satisfaction: This type of release occurs when the lien holder agrees to release a portion of the lien due to a partial satisfaction of the debt or obligation secured by the lien. For example, if a specified amount of money has been paid towards the debt, the lien holder may release a proportional amount of the lien. 2. Partial Release of Lien on Assigned Overriding Royalty Interest with Specific Conditions: Sometimes, a partial release may have specific conditions attached. These conditions can vary depending on the agreement between the parties involved. For instance, the release may be subject to certain events, milestones, or future considerations, which determine the partial release of the lien. 3. Partial Release of Lien on Assigned Overriding Royalty Interest for Specific Time Period: In certain cases, a partial release of the lien may be granted for a specific duration. This can be useful when parties agree to release the lien for a limited time while retaining it for the remaining period or until certain conditions are met. The Bexar Texas Partial Release of Lien on Assigned Overriding Royalty Interest is crucial as it provides legal documentation to confirm the partial release and establishes the terms and conditions under which the release is being granted. This document protects the rights of both the lien holder and the assignee while ensuring transparency and clarity in the transaction.