Iowa Quitclaim Deed for Mineral / Royalty Interest
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How to fill out Quitclaim Deed For Mineral / Royalty Interest?
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FAQ
Grant Deed. A grant deed is a legal document used in real estate transactions that transfers property ownership from one party (the grantor) to another (the grantee). It specifies the parties' names, a legal description of the property, and any relevant conditions or covenants associated with the transfer.
Hear this out loud PauseGrant deeds serve what purpose? Its primary purpose is to transfer ownership from one party (grantor) to another (grantee). By doing so, the grantor can ensure that the title will not be encumbered, licensed, or contested by third parties during the period it is in transfer.
Hear this out loud PauseA grant deed, also known in many states as a limited warranty deed or a special warranty deed, gives the grantee some, but not all, of the assurances of a general warranty deed.
Hear this out loud PauseThe main difference between a grant deed vs. warranty deed is the level of protection offered. A warranty deed offers a higher level of protection than a grant deed. With a grant deed, the grantor is guaranteeing that they haven't sold the property to anyone else, and that it is clear of any liens or restrictions.
Mineral rights deeds are not the same as royalty deeds. Royalty deeds do not allow for surface access, or for the initiation of the extraction and sale of minerals. A royalty owner will only benefit economically if the mineral owner decides to produce and sell the minerals.
To add or remove someone from your deed following a marriage, divorce, death, etc., we recommend contacting an attorney or abstract/title search company to have the proper documentation drawn up and recorded. The Auditor's office cannot prepare deeds for property owners.
Laws & Requirements Signing Requirements: Iowa Code § 558.20: A quitclaim deed must be signed by the grantor before a notary public. Recording Requirements: Iowa Code § 558.13: To be valid against third parties, the Iowa quitclaim deed must be recorded at the Office of the County Recorder where the real estate is.
Hear this out loud PauseGift Deed ? A gift deed is a special type of grant deed that ?gifts? ownership of real property interest to another person or entity. This deed is different from a standard grant deed because it specifically designates that the transfer was not subject to a sale, and the grantor received no monetary compensation.
