The Massachusetts Warranty Deed for Surface and Mineral Interests, with Reservation of All Coal is a legal document used to transfer ownership of both the surface and mineral rights of a property, with a specific reservation for coal. This type of deed is commonly used in Massachusetts when the seller wishes to retain ownership of the coal beneath the surface of a property while transferring the surface and other mineral rights to the buyer. In this deed, the seller, also known as the granter, guarantees that they hold clear and marketable title to the property and has the legal authority to transfer both surface and mineral rights. The deed includes a detailed description of the property being conveyed, including its boundaries, dimensions, and any pertinent identifying features. By using this specific type of warranty deed, the granter reserves the rights to all coal found or later discovered on the property. This means that the granter will retain ownership and control over any coal mining or extraction activities on the property, even after the sale. The granter may choose to lease the coal rights to mining companies or explore and extract the coal themselves at a later date. It is important to note that there may be variations or different types of Massachusetts Warranty Deeds for Surface and Mineral Interests, With Reservation of All Coal, depending on the specific terms and conditions agreed upon by the parties involved. Some variations may include additional clauses or provisions to address specific concerns or requirements of the buyer and seller, such as rights to access the property for mining activities or restrictions on the granter's right to mine or explore for coal. In summary, the Massachusetts Warranty Deed for Surface and Mineral Interests, with Reservation of All Coal, is a legal document used to transfer ownership of both the surface and mineral rights of a property, while reserving the rights to all coal for the granter. This type of deed ensures that the buyer acquires the surface and other mineral rights while allowing the granter to retain control over any potential coal mining or extraction activities.
Massachusetts Warranty Deed for Surface and Mineral Interests, With Reservation of All Coal
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FAQ
What are Outstanding and Reserved mineral rights? Outstanding mineral rights are owned by a party other than the surface owner at the time the surface was conveyed to the United States. Reserved mineral rights are those rights held by the surface owner at the time the surface was conveyed to the United States.
The warranty of ownership assures the buyer that: The property is free of all rights except those declared by the seller. The seller has discharged the property of all hypothecs, except for those assumed by the buyer. The property is not subject to any encroachment on the part of the seller or a third person.
A general warranty deed is the gold standard of property transfers. This type of deed is overwhelmingly used in residential purchases. Most lenders require a warranty deed for properties they finance. It offers buyers the greatest possible protection from future claims against the title.
In Massachusetts, a warranty deed generally offers the greatest protection to someone purchasing or receiving the title to a piece of real estate (the grantee). A warranty deed includes four basic assurances to the grantee at the time of the transaction.
Whether there's been a death, divorce or change of personal circumstances, there may be a reason for you to remove a name from a property deed. This process is done using a deed of conveyance, which is either in the form of a quitclaim deed or a warranty deed.
A quit claim deed does not contain any warranty of title, so the grantor in a quit claim deed makes no promises as to the quality of the grantor's title to the property, or even that that the grantor has any title to the property.
Notary fees are normally charged to the party whose signature is being notarized. For the warranty deed, that is the seller.
A warranty deed makes a promise to the buyer that the seller has good title to the property. A quitclaim deed, on the other hand, makes no promises. A quitclaim deed just says; whatever interest I have in this property, I give to you.