This form is a Oil, Gas and Mineral Deed where the Grantor is a Trust and the Grantee is an individual. Grantor conveys and sells the described property interest to the Grantee. This deed complies with all state statutory laws.
The Harris Texas Oil, Gas, and Mineral Deed is a legal document that transfers ownership rights of oil, gas, and mineral interests from a trust to an individual in Harris County, Texas. This deed is commonly used in transactions involving the transfer of rights to extract and explore valuable resources found underground, such as oil, natural gas, and minerals. In these types of transactions, it is crucial to have a comprehensive understanding of the specific terms and conditions outlined in the deed. The Harris Texas Oil, Gas, and Mineral Deed typically detail various aspects, ensuring a clear transfer of ownership and protection for both parties involved. Some key elements covered in the deed may include: 1. Granter and Grantee: The parties involved in the transfer will be explicitly mentioned, with the granter referring to the trust transferring the rights, and the grantee being the individual receiving the ownership. 2. Legal Description: A precise and accurate description of the property accompanies the deed. This includes the location, boundaries, and size of the land or abstract rights being transferred. 3. Mineral Interests: The deed will outline the specific mineral rights being transferred, such as oil, gas, coal, limestone, or other valuable substances found beneath the surface. 4. Warranty Clause: This clause ensures that the granter guarantees the clear and absolute ownership of the mineral rights and accepts full responsibility for any claims or disputes. 5. Consideration or Purchase Price: The agreed-upon amount to compensate the trust for the transfer of ownership is clearly mentioned in the deed. It ensures a fair exchange of value between the parties involved. 6. Executed Date and Notary Acknowledgment: The deed must be signed and acknowledged by the granter and grantee in the presence of a notary public for it to be legally binding. The date of execution is also noted. There may be variations or specialized types of Harris Texas Oil, Gas, and Mineral Deeds depending on specific circumstances. These can include: 1. Partial Mineral Interest Deed: In cases where only a portion of the mineral interests are being transferred to an individual, a partial mineral interest deed is used. This document clearly specifies the exact percentage or fraction being conveyed. 2. Royalty Deed: When a trust wishes to transfer only the royalty rights associated with oil, gas, or mineral extraction, a royalty deed is utilized. This deed ensures the grantee receives a specific percentage of the revenue generated from the production. 3. Surface Use Agreement: In situations where the trust retains ownership of the subsurface mineral rights but grants an individual the right to use the surface land for extraction purposes, a surface use agreement may be employed. This agreement outlines the conditions and limitations for surface operations. It is essential to consult with legal professionals well-versed in property and mineral rights law when involved in such transactions to ensure the necessary documentation accurately reflects the intent of the parties and safeguards their interests.The Harris Texas Oil, Gas, and Mineral Deed is a legal document that transfers ownership rights of oil, gas, and mineral interests from a trust to an individual in Harris County, Texas. This deed is commonly used in transactions involving the transfer of rights to extract and explore valuable resources found underground, such as oil, natural gas, and minerals. In these types of transactions, it is crucial to have a comprehensive understanding of the specific terms and conditions outlined in the deed. The Harris Texas Oil, Gas, and Mineral Deed typically detail various aspects, ensuring a clear transfer of ownership and protection for both parties involved. Some key elements covered in the deed may include: 1. Granter and Grantee: The parties involved in the transfer will be explicitly mentioned, with the granter referring to the trust transferring the rights, and the grantee being the individual receiving the ownership. 2. Legal Description: A precise and accurate description of the property accompanies the deed. This includes the location, boundaries, and size of the land or abstract rights being transferred. 3. Mineral Interests: The deed will outline the specific mineral rights being transferred, such as oil, gas, coal, limestone, or other valuable substances found beneath the surface. 4. Warranty Clause: This clause ensures that the granter guarantees the clear and absolute ownership of the mineral rights and accepts full responsibility for any claims or disputes. 5. Consideration or Purchase Price: The agreed-upon amount to compensate the trust for the transfer of ownership is clearly mentioned in the deed. It ensures a fair exchange of value between the parties involved. 6. Executed Date and Notary Acknowledgment: The deed must be signed and acknowledged by the granter and grantee in the presence of a notary public for it to be legally binding. The date of execution is also noted. There may be variations or specialized types of Harris Texas Oil, Gas, and Mineral Deeds depending on specific circumstances. These can include: 1. Partial Mineral Interest Deed: In cases where only a portion of the mineral interests are being transferred to an individual, a partial mineral interest deed is used. This document clearly specifies the exact percentage or fraction being conveyed. 2. Royalty Deed: When a trust wishes to transfer only the royalty rights associated with oil, gas, or mineral extraction, a royalty deed is utilized. This deed ensures the grantee receives a specific percentage of the revenue generated from the production. 3. Surface Use Agreement: In situations where the trust retains ownership of the subsurface mineral rights but grants an individual the right to use the surface land for extraction purposes, a surface use agreement may be employed. This agreement outlines the conditions and limitations for surface operations. It is essential to consult with legal professionals well-versed in property and mineral rights law when involved in such transactions to ensure the necessary documentation accurately reflects the intent of the parties and safeguards their interests.
