Alabama Royalty Deed with Limited Warranty is a legal document used in the state of Alabama to convey oil, gas, and mineral rights from one party to another. This type of deed guarantees that the granter (seller) holds title to the royalty interest and will defend the grantee (buyer) against any claims that may arise during their period of ownership. The Alabama Royalty Deed with Limited Warranty includes specific information about the property, such as the legal description, the granter's name and address, and the grantee's name and address. It also typically includes the consideration (usually a monetary amount) for which the royalty interest is being transferred. By using this type of deed, the granter offers a limited warranty to the grantee, promising that they have not conveyed or encumbered the royalty interest to any third party, except as specifically mentioned in the deed. This means that the grantee can be assured that they are receiving a clear and marketable title to the royalty interest, provided that no undisclosed claims arise. There are different variations of the Alabama Royalty Deed with Limited Warranty, depending on the specific circumstances and requirements of the parties involved. Some common types include: 1. Alabama Royalty Deed with Limited Warranty — Oil and Gas: This type of deed is specifically tailored to convey oil and gas royalty interests. It may include additional clauses and provisions related to the exploration, production, and distribution of oil and gas resources. 2. Alabama Royalty Deed with Limited Warranty — Mineral Rights: This deed is used when conveying mineral rights, which may include the rights to all minerals found beneath the surface of the property, including but not limited to oil, gas, coal, and precious metals. 3. Alabama Royalty Deed with Limited Warranty — Specific Interest Deed: Sometimes, the granter may opt to convey only a specific interest in the royalty rights, such as a fixed percentage or a specified number of barrels of oil or cubic feet of gas per month. In summary, the Alabama Royalty Deed with Limited Warranty is a crucial legal document that ensures the transfer of oil, gas, and mineral rights in Alabama. It offers a limited warranty to protect the grantee from undisclosed claims and guarantees the marketability of the royalty interest being conveyed. Various types of such deeds exist, including those specific to oil and gas, mineral rights, or conveying specific interests within the royalty rights.
Alabama Royalty Deed with Limited Warranty
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