A Mississippi Royalty Deed with Limited Warranty is a legal document used in the state of Mississippi to transfer ownership interests in oil, gas, or mineral rights. This type of deed provides limited guarantees regarding the ownership and rights associated with these interests. The limited warranty in a Mississippi Royalty Deed means that the granter (the seller) guarantees that they have not done anything to impair the title, but they do not provide an absolute guarantee of ownership. This limited warranty only applies to the time when the granter owned the rights and does not extend to any previous owners. There are several types of Mississippi Royalty Deeds with Limited Warranty, each specifically tailored to different circumstances or purposes. These variations include: 1. Mississippi Royalty Deed with Limited Warranty for Oil and Gas Rights: This type of deed is commonly used when transferring ownership interests in oil and gas rights. It provides limited assurance to the buyer that the seller has not done anything to compromise the title during their ownership. 2. Mississippi Royalty Deed with Limited Warranty for Mineral Rights: This variation of the deed is used when transferring ownership interests in mineral rights, which can include various resources such as coal, metals, or gemstones. It offers similar limited guarantees as the oil and gas rights deed. 3. Mississippi Royalty Deed with Limited Warranty for Overriding Royalty Interests: In situations where a party possesses overriding royalty interests (ORRIS), a Royalty Deed with Limited Warranty can be used to transfer those interests while providing limited assurance to the buyer regarding the granter's ownership. When drafting or reviewing a Mississippi Royalty Deed with Limited Warranty, it is crucial to consult with a qualified attorney who specializes in real estate or mineral rights law. This ensures that the deed complies with all relevant laws and protects the interests of both the buyer and the seller.
Mississippi Royalty Deed with Limited Warranty
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