Kentucky Royalty Deed with Limited Warranty

• Category: Oil Gas and Minerals - Deeds
• State: Multi-State
• Control #: US-OG-043
• Format: Word; Rich Text

Description

This form conveys a royalty interest with a limited warranty. Kentucky Royalty Deed with Limited Warranty is a legal document that transfers ownership of mineral rights or royalties from the granter (seller) to the grantee (buyer). This type of deed is commonly used in Kentucky for the purpose of selling or conveying the rights to receive income from oil, gas, or other mineral resources found on a property. The Limited Warranty aspect of the deed warrants that the granter has the authority to sell the royalty interests and that the property is free from any claims or encumbrances that occurred during the granter's ownership. However, it does not provide a warranty against any defects or claims that may have existed prior to the granter's ownership. This type of warranty offers some protection to the grantee but is not as comprehensive as a General Warranty Deed. In Kentucky, there are various types of Royalty Deeds with Limited Warranty that may have specific purposes or circumstances: 1. Oil and Gas Royalty Deed with Limited Warranty: This type of deed specifically pertains to the transfer of rights to oil and gas royalties. It ensures that the grantee will receive income from these resources and provides limited protection against claims during the granter's ownership. 2. Mineral Rights Royalty Deed with Limited Warranty: This deed is used to transfer ownership of royalties from any mineral resource found on the property, including not only oil and gas but also coal, ores, or other valuable minerals. It is applicable to a wider range of resources and provides limited protection against claims. 3. Specific Purpose Royalty Deed with Limited Warranty: This type of deed is used when the transfer of royalties is for a particular purpose, such as the extraction of a specific mineral or resource. It may include specific terms and conditions related to that purpose. Kentucky Royalty Deeds with Limited Warranty are essential legal documents for buyers and sellers engaged in the sale or purchase of mineral rights or royalties. It ensures that both parties are protected to some extent from claims that may arise during the granter's ownership period, while still acknowledging the limitations of the warranty. It is advisable to consult with a qualified real estate attorney or professional experienced in mineral rights transactions to ensure the legality and accuracy of all aspects of the deed.

Kentucky Royalty Deed with Limited Warranty is a legal document that transfers ownership of mineral rights or royalties from the granter (seller) to the grantee (buyer). This type of deed is commonly used in Kentucky for the purpose of selling or conveying the rights to receive income from oil, gas, or other mineral resources found on a property. The Limited Warranty aspect of the deed warrants that the granter has the authority to sell the royalty interests and that the property is free from any claims or encumbrances that occurred during the granter's ownership. However, it does not provide a warranty against any defects or claims that may have existed prior to the granter's ownership. This type of warranty offers some protection to the grantee but is not as comprehensive as a General Warranty Deed. In Kentucky, there are various types of Royalty Deeds with Limited Warranty that may have specific purposes or circumstances: 1. Oil and Gas Royalty Deed with Limited Warranty: This type of deed specifically pertains to the transfer of rights to oil and gas royalties. It ensures that the grantee will receive income from these resources and provides limited protection against claims during the granter's ownership. 2. Mineral Rights Royalty Deed with Limited Warranty: This deed is used to transfer ownership of royalties from any mineral resource found on the property, including not only oil and gas but also coal, ores, or other valuable minerals. It is applicable to a wider range of resources and provides limited protection against claims. 3. Specific Purpose Royalty Deed with Limited Warranty: This type of deed is used when the transfer of royalties is for a particular purpose, such as the extraction of a specific mineral or resource. It may include specific terms and conditions related to that purpose. Kentucky Royalty Deeds with Limited Warranty are essential legal documents for buyers and sellers engaged in the sale or purchase of mineral rights or royalties. It ensures that both parties are protected to some extent from claims that may arise during the granter's ownership period, while still acknowledging the limitations of the warranty. It is advisable to consult with a qualified real estate attorney or professional experienced in mineral rights transactions to ensure the legality and accuracy of all aspects of the deed.