New Mexico Trustee's Deed and Assignment for Distribution of Trust, Oil and Gas Properties

• Category: Oil Gas and Minerals - Deeds
• State: Multi-State
• Control #: US-OG-056
• Format: Word; Rich Text

Description

If interests have been conveyed to a trust and the Trustee is prepared to distribute those interests to the beneficiaries named in the trust, this form addresses that situation. New Mexico Trustee's Deed and Assignment for Distribution of Trust, Oil and Gas Properties A Trustee's Deed and Assignment for Distribution of Trust, Oil and Gas Properties is a legal document used in the state of New Mexico to transfer ownership and distribution rights of oil and gas properties held in a trust to beneficiaries or assignees. This document serves as proof of the transfer of title and rights from the trust to the designated recipients. In New Mexico, there are different types of Trustee's Deed and Assignments for Distribution of Trust, Oil and Gas Properties, depending on the specific circumstances and requirements. Some common types include: 1. Trustee's Deed and Assignment for Distribution of Trust, Oil and Gas Properties for Inter Vivos Trust: This type of deed is used when the trust is established during the lifetime of the granter (person establishing the trust), and the distribution of oil and gas properties held in the trust is to be made to the beneficiaries. It outlines the terms and conditions of the distribution, including the specific properties involved, the beneficiaries' names, and their respective shares. 2. Trustee's Deed and Assignment for Distribution of Trust, Oil and Gas Properties for Testamentary Trust: In cases where a trust is created through a will and becomes effective after the granter's death, this type of deed is used to transfer oil and gas properties held in the trust to the beneficiaries outlined in the will. It includes details such as the granter's name, the beneficiaries' names, the distribution percentages, and any conditions or restrictions set forth in the will. 3. Trustee's Deed and Assignment for Distribution of Trust, Oil and Gas Properties for Revocable Trust: Revocable trusts are those that can be amended or revoked by the granter during their lifetime. When distributing oil and gas properties held in a revocable trust, this type of deed is used to transfer ownership to the intended beneficiaries or assignees. It includes information about the trust, the granter, the beneficiaries, and the properties being transferred, along with any specific instructions or conditions. 4. Trustee's Deed and Assignment for Distribution of Trust, Oil and Gas Properties for Irrevocable Trust: Unlike revocable trusts, irrevocable trusts cannot be altered or revoked once established. When distributing oil and gas properties held in an irrevocable trust, this deed is utilized to transfer ownership and distribution rights to the designated beneficiaries. It typically contains details about the trust, the granter, the beneficiaries, and the properties to be distributed. 5. Trustee's Deed and Assignment for Distribution of Trust, Oil and Gas Properties for Charitable Trust: If the oil and gas properties held in a trust are intended for charitable purposes, this type of deed is required to effectuate the transfer of ownership and distribution rights to the charitable organization(s) or cause(s). It includes information about the trust, the granter, the charitable beneficiaries, and any specific conditions or restrictions regarding the use of the properties for charitable purposes. In conclusion, a Trustee's Deed and Assignment for Distribution of Trust, Oil and Gas Properties in New Mexico is a legal document used to transfer ownership and distribute oil and gas properties held in a trust. The specific type of deed used depends on factors such as the type of trust, whether it is revocable or irrevocable, and whether it is established during the granter's lifetime or through a testamentary provision.

New Mexico Trustee's Deed and Assignment for Distribution of Trust, Oil and Gas Properties A Trustee's Deed and Assignment for Distribution of Trust, Oil and Gas Properties is a legal document used in the state of New Mexico to transfer ownership and distribution rights of oil and gas properties held in a trust to beneficiaries or assignees. This document serves as proof of the transfer of title and rights from the trust to the designated recipients. In New Mexico, there are different types of Trustee's Deed and Assignments for Distribution of Trust, Oil and Gas Properties, depending on the specific circumstances and requirements. Some common types include: 1. Trustee's Deed and Assignment for Distribution of Trust, Oil and Gas Properties for Inter Vivos Trust: This type of deed is used when the trust is established during the lifetime of the granter (person establishing the trust), and the distribution of oil and gas properties held in the trust is to be made to the beneficiaries. It outlines the terms and conditions of the distribution, including the specific properties involved, the beneficiaries' names, and their respective shares. 2. Trustee's Deed and Assignment for Distribution of Trust, Oil and Gas Properties for Testamentary Trust: In cases where a trust is created through a will and becomes effective after the granter's death, this type of deed is used to transfer oil and gas properties held in the trust to the beneficiaries outlined in the will. It includes details such as the granter's name, the beneficiaries' names, the distribution percentages, and any conditions or restrictions set forth in the will. 3. Trustee's Deed and Assignment for Distribution of Trust, Oil and Gas Properties for Revocable Trust: Revocable trusts are those that can be amended or revoked by the granter during their lifetime. When distributing oil and gas properties held in a revocable trust, this type of deed is used to transfer ownership to the intended beneficiaries or assignees. It includes information about the trust, the granter, the beneficiaries, and the properties being transferred, along with any specific instructions or conditions. 4. Trustee's Deed and Assignment for Distribution of Trust, Oil and Gas Properties for Irrevocable Trust: Unlike revocable trusts, irrevocable trusts cannot be altered or revoked once established. When distributing oil and gas properties held in an irrevocable trust, this deed is utilized to transfer ownership and distribution rights to the designated beneficiaries. It typically contains details about the trust, the granter, the beneficiaries, and the properties to be distributed. 5. Trustee's Deed and Assignment for Distribution of Trust, Oil and Gas Properties for Charitable Trust: If the oil and gas properties held in a trust are intended for charitable purposes, this type of deed is required to effectuate the transfer of ownership and distribution rights to the charitable organization(s) or cause(s). It includes information about the trust, the granter, the charitable beneficiaries, and any specific conditions or restrictions regarding the use of the properties for charitable purposes. In conclusion, a Trustee's Deed and Assignment for Distribution of Trust, Oil and Gas Properties in New Mexico is a legal document used to transfer ownership and distribute oil and gas properties held in a trust. The specific type of deed used depends on factors such as the type of trust, whether it is revocable or irrevocable, and whether it is established during the granter's lifetime or through a testamentary provision.