A Virginia Partial Release of Mortgage or Deed of Trust on a Mineral/Royalty Interest Sold by Granter is a legal document that allows a property owner to release a portion of their mortgage or deed of trust on a specific mineral or royalty interest that they have sold or transferred to another party. This partial release is typically executed when the granter has sold only a portion of their mineral or royalty interest, while still maintaining ownership of the remaining portion on the property. Keywords related to this topic may include: 1. Virginia Partial Release of Mortgage: This refers to the specific legal document used in the state of Virginia to release a portion of a mortgage on a mineral or royalty interest sold by the granter. It outlines the terms and conditions of the release and ensures that the deed of trust is updated accordingly. 2. Virginia Partial Release of Deed of Trust: This term denotes the legal document used in Virginia when releasing a portion of a deed of trust on a mineral or royalty interest sold by the granter. It clarifies the transfer of ownership of the interest and updates the property records accordingly. 3. Mineral Interest: Denotes the ownership interest in minerals, such as oil, gas, coal, or other natural resources, found beneath the surface of a property. The granter may sell a portion of this interest while retaining a percentage for themselves. 4. Royalty Interest: Refers to the entitlement of a property owner to receive a percentage of the revenue generated from the production of minerals on their property. This interest can also be sold in part by the granter, necessitating a partial release of the mortgage or deed of trust. 5. Granter: The individual or entity that originally granted or conveyed the property to another party and retains ownership of the mineral or royalty interest being sold in part. They are responsible for executing the partial release of mortgage or deed of trust. Different types of Virginia Partial Release of Mortgage / Deed of Trust on a Mineral/Royalty Interest Sold by Granter may include releases for specific percentages of the interest sold or releases relating to different mineral types, such as oil, gas, or coal. These documents must be customized to fit the unique circumstances of each transaction, ensuring accuracy in terms of ownership percentages and legal requirements within the state of Virginia. The exact naming conventions of these types may vary depending on the specific details and preferences of the parties involved.
Virginia Partial Release of Mortgage / Deed of Trust on A Mineral / Royalty Interest Sold by Grantor
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How to fill out Virginia Partial Release Of Mortgage / Deed Of Trust On A Mineral / Royalty Interest Sold By Grantor?
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Information on Virginia Land Records Such deeds show the names of the grantor and grantee, the residence of both parties, a description of what is being sold, the consideration (or price), the location of the tract of land, the tract's boundaries, and any limitations on the property being sold.
Several easy-to-follow steps are required to create a Virginia deed: Locate the most recent deed to the property. ... Create the new deed. ... Sign and notarize the new deed. ... Record the deed in the land records of the clerk's office of the circuit court in the jurisdiction where the property is located.
Every deed and corrected or amended deed may be made in the following form, or to the same effect: "This deed, made the ______ day of ______, in the year ____, between (here insert names of parties as grantors or grantees), witnesseth: that in consideration of (here state the consideration, nominal or actual), the said ...
All documents put to record must be acknowledged and contain a notary seal. All acknowledgements by a Virginia notary must include their commission number, expiration date and a darkened seal.
Who pays the transfer and recordation tax in Virginia? The home seller typically pays the state transfer tax, called the grantor's tax. The cost is one percent, or $1.00/$1,000 of the transaction amount.
After or accompanying payment in full of the obligation secured by a deed of trust or judgment lien, a settlement agent or title insurance company intending to release a deed of trust or judgment lien pursuant to this subsection shall deliver to the lien creditor by certified mail or commercial overnight delivery ...
Can I prepare my own deed? The Clerk's Office Land Records Department will accept a deed prepared by a property owner or an attorney, who is a member of the Virginia Bar. The document must meet all recording standards.
A trust deed ?also known as a deed of trust?is a document sometimes used in real estate transactions in the U.S. It is a document that comes into play when one party has taken out a loan from another party to purchase a property.
