Maryland 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. Maryland Royalty Deed with Limited Warranty is a legal document used in real estate transactions that conveys ownership rights of a property from a granter to a grantee. This type of deed specifically addresses the ownership of royalty interests in natural resources, such as oil, gas, or minerals, that may exist on the property. In Maryland, the Royalty Deed with Limited Warranty ensures that the granter guarantees the grantee a limited warranty on the royalty interests being conveyed. This means that the granter promises to defend the grantee's ownership rights against any claims that may arise during the granter's ownership, but not against claims that may have existed prior to the granter's ownership. There are different types of Maryland Royalty Deed with Limited Warranty that can be used depending on the specific circumstances of the transaction. Some variations include: 1. Royalty Deed for Oil and Gas Interests: This type of deed is used when the primary interest being conveyed is related to oil and gas resources. It outlines the granter's limited warranty on the ownership of these specific resources. 2. Royalty Deed for Mineral Rights: In cases where the primary interest being conveyed is the ownership of mineral resources, such as coal, iron, or limestone, a specific variation of the Royalty Deed with Limited Warranty can be used. This deed addresses the granter's limited warranty on the ownership of mineral rights. 3. General Royalty Deed: This type of deed is more broad and can be used to convey ownership of royalty interests in various types of natural resources, including oil, gas, minerals, or any combination thereof. It provides a limited warranty on the grantee's ownership rights, regardless of the specific resource. Regardless of the type of Maryland Royalty Deed with Limited Warranty being utilized, it is essential for both the granter and the grantee to carefully review the terms and conditions stated in the deed. Consulting with a qualified attorney or real estate professional is advised to ensure compliance with legal requirements and to protect the interests of both parties involved in the transaction.

Maryland Royalty Deed with Limited Warranty is a legal document used in real estate transactions that conveys ownership rights of a property from a granter to a grantee. This type of deed specifically addresses the ownership of royalty interests in natural resources, such as oil, gas, or minerals, that may exist on the property. In Maryland, the Royalty Deed with Limited Warranty ensures that the granter guarantees the grantee a limited warranty on the royalty interests being conveyed. This means that the granter promises to defend the grantee's ownership rights against any claims that may arise during the granter's ownership, but not against claims that may have existed prior to the granter's ownership. There are different types of Maryland Royalty Deed with Limited Warranty that can be used depending on the specific circumstances of the transaction. Some variations include: 1. Royalty Deed for Oil and Gas Interests: This type of deed is used when the primary interest being conveyed is related to oil and gas resources. It outlines the granter's limited warranty on the ownership of these specific resources. 2. Royalty Deed for Mineral Rights: In cases where the primary interest being conveyed is the ownership of mineral resources, such as coal, iron, or limestone, a specific variation of the Royalty Deed with Limited Warranty can be used. This deed addresses the granter's limited warranty on the ownership of mineral rights. 3. General Royalty Deed: This type of deed is more broad and can be used to convey ownership of royalty interests in various types of natural resources, including oil, gas, minerals, or any combination thereof. It provides a limited warranty on the grantee's ownership rights, regardless of the specific resource. Regardless of the type of Maryland Royalty Deed with Limited Warranty being utilized, it is essential for both the granter and the grantee to carefully review the terms and conditions stated in the deed. Consulting with a qualified attorney or real estate professional is advised to ensure compliance with legal requirements and to protect the interests of both parties involved in the transaction.