Kentucky Term Mineral Deed of Undivided Interest
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How to fill out Term Mineral Deed Of Undivided Interest?
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FAQ
Calculating Overriding Royalty Interest An ORRI is a straight percentage. For example, a 2% override would appear on the royalty statement as 0.02 interest in the proceeds from the sale of the leased hydrocarbons.
The term ?undivided interest? refers to a type of ownership in which multiple parties share ownership of a single asset without the property being physically divided among them. This is commonly seen in real estate, natural resource holdings, and certain types of financial investments.
The ownership of rights to minerals, including oil and gas, contained in a tract of land. A mineral right is a real property interest and can be conveyed independently of the surface estate.
Mineral Interest (MI) When the mineral rights are conveyed to another person or entity, they are ?severed? from the land, and a separate chain of title begins. When a person owns less than 100% of the minerals, they are said to own a fractional or undivided mineral interest.
Primary tabs. An undivided interest means that two or more persons have an interest in a property held under the same title. The undivided interest encompasses the whole property, and its holders have equal rights to the entire property. The undivided interest is not separated into parts or shares.
This is an estate or ownership in fee simple in and to the minerals. A conveyance or reservation of a mineral fee gives title to the minerals. The ownership of a mineral interest includes all ownership, including the right to execute oil, gas and mineral leases and the right to receive bonuses, rentals and royalties.
