New Mexico 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 New Mexico Mineral Deed with Limited Warranty is a legal document used to transfer ownership of mineral rights in New Mexico from one party to another. This type of deed provides a limited warranty of title, meaning that the seller guarantees they have not done anything to impair the title during their ownership, but they do not provide any guarantees for previous owners or subsequent actions. The New Mexico Mineral Deed with Limited Warranty is commonly used in the oil, gas, and mining industries, as mineral rights holders often lease or sell their rights to exploration and extraction companies. This deed allows for the transfer of these rights in a clear and legally binding manner, providing the buyer with some assurance regarding the ownership and title. There might be different variations or types of the New Mexico Mineral Deed with Limited Warranty depending on specific requirements or additional provisions. Some possible variations may include: 1. New Mexico Mineral Deed with Limited Warranty and Surface Rights: This type of deed not only transfers the mineral rights but also includes the surface rights associated with the property. It allows the buyer to have complete control over both the minerals beneath and the surface land. 2. New Mexico Mineral Deed with Limited Warranty and Royalty Interest: In this variation, the seller transfers the mineral rights to the buyer along with a percentage of any future profits or royalties derived from extracting and selling the minerals. The buyer becomes entitled to receive a share of the proceeds from the mineral production. 3. New Mexico Mineral Deed with Limited Warranty and Non-Participating Interest: This type of deed transfers only a portion of the mineral rights to the buyer, while the seller reserves the right to a share of the profits or royalties. The buyer does not have the right to participate in decisions regarding exploration, drilling, or leasing activities. It is crucial to consult with a qualified attorney or legal professional when dealing with mineral rights transactions to ensure that all legal requirements are met and the deed adequately protects the buyer's interests. The specific terms and provisions of the New Mexico Mineral Deed with Limited Warranty may vary depending on the unique circumstances and agreement between the parties involved.

A New Mexico Mineral Deed with Limited Warranty is a legal document used to transfer ownership of mineral rights in New Mexico from one party to another. This type of deed provides a limited warranty of title, meaning that the seller guarantees they have not done anything to impair the title during their ownership, but they do not provide any guarantees for previous owners or subsequent actions. The New Mexico Mineral Deed with Limited Warranty is commonly used in the oil, gas, and mining industries, as mineral rights holders often lease or sell their rights to exploration and extraction companies. This deed allows for the transfer of these rights in a clear and legally binding manner, providing the buyer with some assurance regarding the ownership and title. There might be different variations or types of the New Mexico Mineral Deed with Limited Warranty depending on specific requirements or additional provisions. Some possible variations may include: 1. New Mexico Mineral Deed with Limited Warranty and Surface Rights: This type of deed not only transfers the mineral rights but also includes the surface rights associated with the property. It allows the buyer to have complete control over both the minerals beneath and the surface land. 2. New Mexico Mineral Deed with Limited Warranty and Royalty Interest: In this variation, the seller transfers the mineral rights to the buyer along with a percentage of any future profits or royalties derived from extracting and selling the minerals. The buyer becomes entitled to receive a share of the proceeds from the mineral production. 3. New Mexico Mineral Deed with Limited Warranty and Non-Participating Interest: This type of deed transfers only a portion of the mineral rights to the buyer, while the seller reserves the right to a share of the profits or royalties. The buyer does not have the right to participate in decisions regarding exploration, drilling, or leasing activities. It is crucial to consult with a qualified attorney or legal professional when dealing with mineral rights transactions to ensure that all legal requirements are met and the deed adequately protects the buyer's interests. The specific terms and provisions of the New Mexico Mineral Deed with Limited Warranty may vary depending on the unique circumstances and agreement between the parties involved.