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.
You generally need the original lien documents, a statement regarding which part is being released, and possibly some additional paperwork to show you’ve met the agreement terms.
The time can vary, but it typically takes a few weeks to several months depending on the jurisdiction and how quickly all parties get things sorted out.
While it’s not a legal requirement, having a lawyer can really help smooth out the bumps and ensure everything is done correctly, like a pro.
Absolutely! A full lien release clears the debt on the entire property, while a partial release only applies to a specific part, which means you're still responsible for the remaining obligation.
It allows you to maintain a portion of your Overriding Royalty Interest while releasing the lien on a part of it, giving you more freedom without losing it all.
A Partial Release of Lien means that a lender or creditor is releasing some rights on a property or interest, letting the owner keep certain benefits while settling part of the debt.