Florida Royalty Deed with Limited Warranty refers to a legal document that transfers ownership rights of royalty interests in natural resources, such as oil, gas, and minerals, in the state of Florida. This type of deed provides limited assurance to the grantee, or the party receiving the interests, regarding any defects in the title. It implies that the granter, or the party transferring the interests, will defend against any claims from previous owners but does not guarantee absolute title ownership. In Florida, there are different types of Royalty Deeds with Limited Warranty that cater to specific scenarios and requirements. These may include: 1. Oil and Gas Royalty Deed with Limited Warranty: This type of deed is used when transferring ownership of royalty interests specifically related to oil and gas production in Florida. It establishes a limited warranty by the granter, ensuring that the transfer is free from any undisclosed claims or defects, only to the extent of their ownership rights. 2. Mineral Royalty Deed with Limited Warranty: When it comes to transferring ownership rights related to mineral resources, such as coal, limestone, or phosphate, a Mineral Royalty Deed with Limited Warranty is utilized. This document assures the grantee that the granter will defend against any undisclosed claims or defects to the mineral interests being transferred. 3. Natural Resource Royalty Deed with Limited Warranty: This type of Royalty Deed encompasses a broader range of natural resources beyond just oil, gas, and minerals. It can include interests in timber, water resources, or other special-use extraction rights. The Limited Warranty provided in this deed assures the grantee of the granter's responsibility in defending the interests transferred. It is important for both parties involved in the transaction to thoroughly understand the terms outlined in the Florida Royalty Deed with Limited Warranty. Consulting with an experienced real estate attorney or title company is highly recommended ensuring a smooth transfer of ownership rights and to address any specific concerns related to the particular type of deed being used.
Florida Royalty Deed with Limited Warranty
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