North Carolina Mineral Deed with Limited Warranty

• Category: Oil Gas and Minerals - Deeds
• State: Multi-State
• Control #: US-OG-061
• Format: Word; Rich Text

Description

This form of deed conveys an undivided interest in minerals in specific lands. A North Carolina Mineral Deed with Limited Warranty is a legal document that transfers ownership rights of minerals, such as oil, gas, coal, or other natural resources, from the current owner, known as the granter, to the recipient, known as the grantee. This type of deed is commonly used in real estate transactions involving land in North Carolina that contains mineral rights. A Mineral Deed with Limited Warranty provides limited guarantees or assurances to the grantee regarding the mineral rights, specifically in regard to the granter's ownership and the absence of any outstanding claims or encumbrances. Unlike a General Warranty Deed, which provides a comprehensive guarantee of clear and marketable title, a Limited Warranty Deed only includes warranties related to the granter's actions. The Limited Warranty Deed is often used when the granter is not willing to assume the responsibility for any potential defects, claims, or liens on the property's mineral rights that may have arisen prior to their ownership. With this type of deed, the granter only guarantees that they have not personally done anything to harm or impair the title, but they do not offer any guarantees regarding previous owners. There are no specific subtypes or variations of North Carolina Mineral Deed with Limited Warranty, as it pertains to the scope and extent of the warranties provided by the granter. However, it is essential to note that the specific terms and conditions, as well as any additional provisions, can be negotiated and customized between the parties involved in the transaction. It is crucial for both the granter and grantee to review the deed carefully and consult with legal professionals to ensure their interests are adequately protected. In conclusion, a North Carolina Mineral Deed with Limited Warranty is a legal instrument used to convey mineral ownership rights. It provides limited assurances regarding the granter's ownership and the absence of any claims or encumbrances on the mineral rights. While there are no specific variations of this type of deed, its terms and conditions can be customized to suit the parties' needs.

A North Carolina Mineral Deed with Limited Warranty is a legal document that transfers ownership rights of minerals, such as oil, gas, coal, or other natural resources, from the current owner, known as the granter, to the recipient, known as the grantee. This type of deed is commonly used in real estate transactions involving land in North Carolina that contains mineral rights. A Mineral Deed with Limited Warranty provides limited guarantees or assurances to the grantee regarding the mineral rights, specifically in regard to the granter's ownership and the absence of any outstanding claims or encumbrances. Unlike a General Warranty Deed, which provides a comprehensive guarantee of clear and marketable title, a Limited Warranty Deed only includes warranties related to the granter's actions. The Limited Warranty Deed is often used when the granter is not willing to assume the responsibility for any potential defects, claims, or liens on the property's mineral rights that may have arisen prior to their ownership. With this type of deed, the granter only guarantees that they have not personally done anything to harm or impair the title, but they do not offer any guarantees regarding previous owners. There are no specific subtypes or variations of North Carolina Mineral Deed with Limited Warranty, as it pertains to the scope and extent of the warranties provided by the granter. However, it is essential to note that the specific terms and conditions, as well as any additional provisions, can be negotiated and customized between the parties involved in the transaction. It is crucial for both the granter and grantee to review the deed carefully and consult with legal professionals to ensure their interests are adequately protected. In conclusion, a North Carolina Mineral Deed with Limited Warranty is a legal instrument used to convey mineral ownership rights. It provides limited assurances regarding the granter's ownership and the absence of any claims or encumbrances on the mineral rights. While there are no specific variations of this type of deed, its terms and conditions can be customized to suit the parties' needs.