Pima Arizona Partial Release of Lien on Assigned Overriding Royalty Interest

• Category: Oil Gas and Minerals - Releases
• State: Multi-State
• County: Pima
• 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. Lima, Arizona Partial Release of Lien on Assigned Overriding Royalty Interest serves as a legal documentation that releases a portion of the outstanding lien placed on a property owner's assigned overriding royalty interest. This type of document is commonly used in Lima, Arizona, to regulate interests in oil, gas, or mineral rights. The Lima, Arizona Partial Release of Lien on Assigned Overriding Royalty Interest provides a concise description of the property, including its location, legal description, and any associated lease or agreement details. This comprehensive documentation ensures clarity and transparency for all parties involved. The primary purpose of this liens release is to grant the property owner or assignee the ability to sell or transfer a portion of their assigned overriding royalty interest. The release may be used alongside a separate assignment agreement or deed, facilitating the smooth transfer of the assigned interest to another party. In situations where multiple liens exist on the assigned overriding royalty interest, different types of partial releases may be required. Some common variations of the Lima, Arizona Partial Release of Lien on Assigned Overriding Royalty Interest include: 1. Partial Release of Lien on Assigned Overriding Royalty Interest — First Lien: This document pertains to the release of the first lien placed on the assigned overriding royalty interest. 2. Partial Release of Lien on Assigned Overriding Royalty Interest — Second Lien: This type of release becomes necessary when there are multiple liens on the assigned overriding royalty interest, and the second lien needs to be partially released. 3. Partial Release of Lien on Assigned Overriding Royalty Interest — Specific Percentage Release: This variant caters to situations where a specific percentage of the assigned overriding royalty interest is released, allowing partial ownership transfer. 4. Partial Release of Lien on Assigned Overriding Royalty Interest — Conditional Release: This release is contingent upon the completion of certain conditions or obligations specified within the agreement, ensuring compliance before releasing the lien partially. 5. Partial Release of Lien on Assigned Overriding Royalty Interest — Temporary Release: This temporary release allows the property owner or assignee to temporarily transfer a portion of the assigned interest, with the lien reinstating after a specified period or event. Properly executing the Lima, Arizona Partial Release of Lien on Assigned Overriding Royalty Interest is crucial to protect the rights and interests of all parties involved. It is advisable to seek legal counsel or consult with professionals specializing in oil, gas, and minerals, to ensure compliance and accuracy in drafting and executing this legal document.

Lima, Arizona Partial Release of Lien on Assigned Overriding Royalty Interest serves as a legal documentation that releases a portion of the outstanding lien placed on a property owner's assigned overriding royalty interest. This type of document is commonly used in Lima, Arizona, to regulate interests in oil, gas, or mineral rights. The Lima, Arizona Partial Release of Lien on Assigned Overriding Royalty Interest provides a concise description of the property, including its location, legal description, and any associated lease or agreement details. This comprehensive documentation ensures clarity and transparency for all parties involved. The primary purpose of this liens release is to grant the property owner or assignee the ability to sell or transfer a portion of their assigned overriding royalty interest. The release may be used alongside a separate assignment agreement or deed, facilitating the smooth transfer of the assigned interest to another party. In situations where multiple liens exist on the assigned overriding royalty interest, different types of partial releases may be required. Some common variations of the Lima, Arizona Partial Release of Lien on Assigned Overriding Royalty Interest include: 1. Partial Release of Lien on Assigned Overriding Royalty Interest — First Lien: This document pertains to the release of the first lien placed on the assigned overriding royalty interest. 2. Partial Release of Lien on Assigned Overriding Royalty Interest — Second Lien: This type of release becomes necessary when there are multiple liens on the assigned overriding royalty interest, and the second lien needs to be partially released. 3. Partial Release of Lien on Assigned Overriding Royalty Interest — Specific Percentage Release: This variant caters to situations where a specific percentage of the assigned overriding royalty interest is released, allowing partial ownership transfer. 4. Partial Release of Lien on Assigned Overriding Royalty Interest — Conditional Release: This release is contingent upon the completion of certain conditions or obligations specified within the agreement, ensuring compliance before releasing the lien partially. 5. Partial Release of Lien on Assigned Overriding Royalty Interest — Temporary Release: This temporary release allows the property owner or assignee to temporarily transfer a portion of the assigned interest, with the lien reinstating after a specified period or event. Properly executing the Lima, Arizona Partial Release of Lien on Assigned Overriding Royalty Interest is crucial to protect the rights and interests of all parties involved. It is advisable to seek legal counsel or consult with professionals specializing in oil, gas, and minerals, to ensure compliance and accuracy in drafting and executing this legal document.