Arizona Warranty Deed for Surface and Mineral Interests with Multiple Grantors
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How to fill out Warranty Deed For Surface And Mineral Interests With Multiple Grantors?
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FAQ
General Warranty Deed in Arizona A general warranty deed is the most common type of deed used when real property is purchased. The deed includes a guarantee from the grantor (seller) that they hold the title free and clear without any encumbrances on the property.
A quick overview of the differences between mineral rights and royalty interests shows a mineral interest is a real property interest obtained by severing the minerals from the surface and a royalty interest grants an owner a portion of the production revenue generated.
A warranty deed or quit claim deed TRANSFERS TITLE or OWNERSHIP of real property. When you purchase property, you usually receive a warranty deed from the seller to you to show that you now own the property.
General Warranty Deed It offers the highest level of protection to the buyer because it guarantees that there are absolutely no problems with the home ? even dating back to prior property owners. This quality of coverage is why most lenders will require you to get a general warranty deed when buying your house.
A mineral deed is just like a warranty deed, accept it only transfers the minerals in the sub surface of a property. A warranty deed can be used transfer both the surface, and mineral rights. But a mineral deed can only be used to transfer the minerals.
When committing to a general warranty deed, the seller is promising there are no liens against the property, and if there were, the seller would compensate the buyer for those claims. Mainly for this reason, general warranty deeds are the most commonly used type of deed in real estate sales.
The most common deed form in Arizona is the warranty deed. Warranty deeds provide protection to the buyer in the form of a warranty by the seller that guarantees no issues with the title.
A warranty deed, which also may be called a general warranty deed, is the type of deed used most frequently when real property is sold.
Unlike a general warranty deed, a special warranty deed doesn't cover title claims over the property's entire history. It only guarantees against title issues that occurred when the seller owned the home.
A mineral deed form is a legal document, regarding the ownership of the minerals below the surface of the earth. It is important to understand that surface rights and mineral rights, on the same piece of land, can be owned by different parties.