Kansas Term Royalty Deed
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How to fill out Term Royalty Deed?
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FAQ
Ing to § 58-2205, -2209, -2211 of State Law, the deed must be signed by both parties to the transaction. In addition, the form must be notarized. Once drafted and certified, the document must be recorded as soon as possible. This is to protect both parties and to ensure that the state is aware of property rights.
A royalty deed gives its holder the right to receive a percentage of the profits from the sale of the minerals, if and when they are actually produced. This kind of legal document does not convey all of the mineral rights to the holder, only the right to receive royalties.
To add a beneficiary to your property requires a Transfer on Death or Beneficiary deed. The form can be located on the Kansas Bar Association's website or by a general Google search. It must be filled out, signed, and notarized before it can be recorded.
The current property owner with the right to transfer the property must sign a Kansas deed. A deed that transfers a co-owned property should include the signatures of both owners. A lawful agent or attorney who can act on the owner's behalf may sign a deed for the owner.
Does Kansas Charge a Transfer Tax for Real Estate Transfers? No. Kansas is one of a few states with no transfer tax or deed tax on real estate transfers.
Laws. Recording ? A quitclaim deed must be filed with the County Recorder's Office where the real estate is located. Go to your County Website to locate the office nearest you. Signing (§ 58-2205) ? A quitclaim deed is required to be authorized with a notary public present.
