Maine Warranty Deed for Surface with Limited Warranty

• Category: Oil Gas and Minerals - Deeds
• State: Multi-State
• Control #: US-OG-320
• Format: Word; Rich Text

Description

This form of deed conveys the surface estate in existing lands pursuant to a contract of sale. A Maine Warranty Deed for Surface with Limited Warranty is a legal document used to transfer ownership of real estate property in the state of Maine. This type of deed provides a limited warranty to the buyer, guaranteeing that the granter (seller) holds title to the property and has the right to sell it. The Maine Warranty Deed for Surface with Limited Warranty is commonly used for transactions involving surface rights, such as agricultural or undeveloped land. It does not include any warranties regarding subsurface rights, such as minerals, oil, or gas. Specific language in the deed clearly states the limited warranty, distinguishing it from a general warranty deed which provides broader assurances. Different variations of the Maine Warranty Deed for Surface with Limited Warranty may exist, differing in terms and conditions depending on the specific nature of the transaction. Some common types include: 1. Maine Agricultural Surface Warranty Deed with Limited Warranty: This type of deed is commonly used when transferring ownership of agricultural land, guaranteeing that the granter has good title to the surface rights but not the minerals or subsurface rights. 2. Maine Undeveloped Land Surface Warranty Deed with Limited Warranty: This variation of the deed is typically used for undeveloped land transactions, ensuring that the granter has the right to sell the surface rights but not the rights to any minerals or resources beneath the surface. 3. Maine Rural Surface Warranty Deed with Limited Warranty: This type of limited warranty deed is often employed in rural land transactions, providing assurance to the buyer that the granter holds clear title to the surface rights, though not extending to any subsurface rights. When drafting a Maine Warranty Deed for Surface with Limited Warranty, it is crucial to include specific details about the property, names and addresses of both the granter and the grantee, the purchase price, and any other relevant terms or conditions agreed upon by both parties. Additionally, the deed must be signed and notarized to ensure its legality and enforceability. It is recommended to consult with a qualified attorney or real estate professional when preparing and executing this important legal document.

A Maine Warranty Deed for Surface with Limited Warranty is a legal document used to transfer ownership of real estate property in the state of Maine. This type of deed provides a limited warranty to the buyer, guaranteeing that the granter (seller) holds title to the property and has the right to sell it. The Maine Warranty Deed for Surface with Limited Warranty is commonly used for transactions involving surface rights, such as agricultural or undeveloped land. It does not include any warranties regarding subsurface rights, such as minerals, oil, or gas. Specific language in the deed clearly states the limited warranty, distinguishing it from a general warranty deed which provides broader assurances. Different variations of the Maine Warranty Deed for Surface with Limited Warranty may exist, differing in terms and conditions depending on the specific nature of the transaction. Some common types include: 1. Maine Agricultural Surface Warranty Deed with Limited Warranty: This type of deed is commonly used when transferring ownership of agricultural land, guaranteeing that the granter has good title to the surface rights but not the minerals or subsurface rights. 2. Maine Undeveloped Land Surface Warranty Deed with Limited Warranty: This variation of the deed is typically used for undeveloped land transactions, ensuring that the granter has the right to sell the surface rights but not the rights to any minerals or resources beneath the surface. 3. Maine Rural Surface Warranty Deed with Limited Warranty: This type of limited warranty deed is often employed in rural land transactions, providing assurance to the buyer that the granter holds clear title to the surface rights, though not extending to any subsurface rights. When drafting a Maine Warranty Deed for Surface with Limited Warranty, it is crucial to include specific details about the property, names and addresses of both the granter and the grantee, the purchase price, and any other relevant terms or conditions agreed upon by both parties. Additionally, the deed must be signed and notarized to ensure its legality and enforceability. It is recommended to consult with a qualified attorney or real estate professional when preparing and executing this important legal document.