Kansas Term Mineral Deed of Undivided Interest

• Category: Oil Gas and Minerals - Deeds
• State: Multi-State
• Control #: US-OG-064
• Format: Word; Rich Text

Description

This deed form conveys a mineral interest for a specified term, to be designated by the grantor, after which time, the conveyed interest reverts to the grantor. A Kansas Term Mineral Deed of Undivided Interest is a legal document used in the state of Kansas to transfer ownership or control of mineral rights for a specified period of time. This type of deed allows the granter to convey a percentage or fraction of their interest in the minerals found on a property. The term "undivided interest" means that multiple parties share ownership rights without any specific division or physical boundaries. Each party has the right to access and extract minerals from the property, but the ownership of the land itself remains undivided. There are several types of Kansas Term Mineral Deeds of Undivided Interest, including: 1. Working Interest Mineral Deed: This type of deed grants the recipient the right to participate in the exploration, development, and production of minerals. The recipient is responsible for a proportionate share of costs and receives a corresponding share of the profits or production. 2. Non-Participating Royalty Interest Mineral Deed: With this deed, the grantee is entitled to receive a portion of the royalty payments generated from the production of minerals from the property. However, they do not have the right to participate in the exploration or development activities. 3. Overriding Royalty Interest Mineral Deed: This type of deed grants the grantee a percentage or fraction of the royalties derived from the production of minerals, but it is created from the working interest owner's share. The grantee does not bear any of the costs associated with exploration or production. 4. Non-Operated Working Interest Mineral Deed: In this case, the grantee has the right to participate in the revenue and expenses generated by the working interest in the property, but they are not responsible for the day-to-day operations or decision-making. Kansas Term Mineral Deeds of Undivided Interest play a significant role in the state's oil and gas industry, allowing for the efficient transfer of ownership rights and interests. These documents provide a legal framework for multiple parties to collaborate on mineral exploration and production while ensuring a fair division of profits and responsibilities.

A Kansas Term Mineral Deed of Undivided Interest is a legal document used in the state of Kansas to transfer ownership or control of mineral rights for a specified period of time. This type of deed allows the granter to convey a percentage or fraction of their interest in the minerals found on a property. The term "undivided interest" means that multiple parties share ownership rights without any specific division or physical boundaries. Each party has the right to access and extract minerals from the property, but the ownership of the land itself remains undivided. There are several types of Kansas Term Mineral Deeds of Undivided Interest, including: 1. Working Interest Mineral Deed: This type of deed grants the recipient the right to participate in the exploration, development, and production of minerals. The recipient is responsible for a proportionate share of costs and receives a corresponding share of the profits or production. 2. Non-Participating Royalty Interest Mineral Deed: With this deed, the grantee is entitled to receive a portion of the royalty payments generated from the production of minerals from the property. However, they do not have the right to participate in the exploration or development activities. 3. Overriding Royalty Interest Mineral Deed: This type of deed grants the grantee a percentage or fraction of the royalties derived from the production of minerals, but it is created from the working interest owner's share. The grantee does not bear any of the costs associated with exploration or production. 4. Non-Operated Working Interest Mineral Deed: In this case, the grantee has the right to participate in the revenue and expenses generated by the working interest in the property, but they are not responsible for the day-to-day operations or decision-making. Kansas Term Mineral Deeds of Undivided Interest play a significant role in the state's oil and gas industry, allowing for the efficient transfer of ownership rights and interests. These documents provide a legal framework for multiple parties to collaborate on mineral exploration and production while ensuring a fair division of profits and responsibilities.