A Montana Partial Release of Mortgage / Deed of Trust on A Mineral / Royalty Interest Sold by Granter is a legal document that allows a property owner (granter) to release a portion of their mortgage or deed of trust on a mineral or royalty interest they have sold. This release is applicable when the granter sells a percentage or specific portion of their mineral or royalty interest to another party. The Montana Partial Release of Mortgage / Deed of Trust on A Mineral / Royalty Interest Sold by Granter serves as a written agreement between the granter and the buyer, outlining the terms and conditions of the partial release. The document typically includes important details, such as: 1. Parties involved: The names and contact information of both the granter (property owner) and the buyer (individual or entity purchasing the mineral or royalty interest) are included in the document. 2. Property description: A detailed description of the specific property and the minerals or royalty interests being sold is included. This may include information such as the legal description of the property and any specific terms or conditions related to the mineral or royalty interests being conveyed. 3. Sold percentage or portion: The document specifies the exact percentage or portion of the mineral or royalty interests being sold by the granter to the buyer. This could be a fixed percentage or a specific identifiable portion of the interest. 4. Release of mortgage or deed of trust: The Montana Partial Release of Mortgage / Deed of Trust on A Mineral / Royalty Interest Sold by Granter explicitly states that the granter is releasing a certain part of their mortgage or deed of trust related to the specific mineral or royalty interest being sold. This release ensures that the buyer has clear and unencumbered ownership of the sold portion. 5. Consideration: The document may outline the consideration, such as the purchase price or any other agreed-upon compensation, provided by the buyer in exchange for the mineral or royalty interest. Types of Montana Partial Release of Mortgage / Deed of Trust on A Mineral / Royalty Interest Sold by Granter may include: 1. Percentage-based release: This type of release specifies the percentage of the mineral or royalty interest being sold by the granter to the buyer. For example, a granter may sell 50% of their mineral or royalty interest, retaining the remaining 50%. 2. Portion-specific release: In certain cases, the granter may wish to release a specific identifiable portion of their mineral or royalty interest. This could involve releasing a particular designated plot or area within the property. 3. Time-limited release: In some instances, a Partial Release may have a specific timeframe attached. This means that the release applies only for a predetermined period, after which the granter retains full ownership of the mineral or royalty interest. A Montana Partial Release of Mortgage / Deed of Trust on A Mineral / Royalty Interest Sold by Granter is an essential legal document that protects the rights and interests of both the granter and the buyer. It ensures a transparent and legally binding agreement regarding the partial release of a mortgage or deed of trust related to a specific mineral or royalty interest in the state of Montana.
Montana Partial Release of Mortgage / Deed of Trust on A Mineral / Royalty Interest Sold by Grantor
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FAQ
For convenience and simplicity in estate planning, Montana law allows for transfer on death deeds (TOD deeds)?a deed, executed and recorded during the lifetime of the grantor(s), which allows real property to pass to the designated beneficiaries outside of probate.
A Montana quitclaim deed is a legal form that transfers real property (land and buildings) without warranties or promises about the validity of title.
Montana does NOT have a Real Estate Transfer tax; you only need to file a Realty Transfer Certificate. ?Transfer? includes sales, exchanges, gifts, inheritances or any other transaction where the property changes ownership.
Whenever property is sold or gifted, a deed must be executed by the person or entity transferring ownership, the ?grantor,? and recorded with the Clerk and Recorder in the county where the property is located. The grantor will also need to file a Realty Transfer Certificate and pay the recording fee ($8 per page).
Call the county treasurer in the county in which the property is located. Provide the clerk with the legal description of the property. The county clerk's office will research the property's ownership and, for a small fee, provide you with a copy of the property deed.
If your deed does not list this information, you will need to contact the County Clerk in the county where your minerals are located.
A Montana deed is a legal document used to transfer land and real estate in the State of Montana. The deeds must have the name and address of the grantor and grantee as well as the legal description of the property being transferred. In addition, a notary must sign an acknowledgment that the deed was properly signed.
