Wisconsin Partial Release of Mortgage / Deed of Trust on A Mineral / Royalty Interest Sold by Grantor

State:
Multi-State
Control #:
US-OG-130
Format:
Word; 
Rich Text
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Description

If an owner of a mineral or royalty interest, whose interest is subject to a mortgage/deed of trust, desires to sell or convey an interest, it is appropriate to obtain a release of that lien as to the interest conveyed. This form addresses that situation.

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FAQ

The Wisconsin real estate transfer fee (RETF) is imposed upon the grantor (seller) of real estate at a rate of $3.00 per $1,000 of value.

A Wisconsin quitclaim deed form is a written instrument for conveying an ownership interest in real estate with no warranty of title. 1. Warranty of title is the current owner's promise or guaranty that the owner holds valid title to the transferred property free of undisclosed title defects.

A ?Transfer on Death? (TOD) Deed can be a useful tool when creating an estate plan. This particular type of deed can streamline the process of conveying real property incident to your death.

A $30 filing fee is typically required. Transfer Tax: Yes: 30 cents for each $100 value or fraction of $100.

Leases less than 99 years are not conveyances of real property per state law (sec. 77.21(1), Wis. Stats.). If an original lease of 50 years expires and is then renewed for another 50 years, it is considered to be less than 99 years and is exempt from transfer return and the transfer fee.

To get title to the property after your death, the beneficiary must complete a form called a Termination of Decedent's Interest (Form TOD-110).

How do I remove my deceased spouse's name from my deed? Complete Termination of Decedent's Interest form (HT-110). This form and instructions are available at the Wisconsin Register of Deeds Association forms page. Also see HT-110 sample for general guidance.

The Grantors (current owners) must sign the deed before a notary public. 2. Go to the Wisconsin Department of Revenue's E-Return website at and complete an E-Return (eRETR). Most of the information you need for the eRETR comes from your property tax statement and the new deed.

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Wisconsin Partial Release of Mortgage / Deed of Trust on A Mineral / Royalty Interest Sold by Grantor