New York Term Royalty Deed

• Category: Oil Gas and Minerals - Deeds
• State: Multi-State
• Control #: US-OG-045
• Format: Word; Rich Text

Description

This form conveys a royalty interest for a specified term of years. If there is production at the end of that term, or the lands are subject to an oil and gas lease, the interest will continue to be owned by the grantee until production ceases. A New York Term Royalty Deed is a legal document used in the state of New York that grants a specific term or period of time during which a landowner or mineral rights' owner (referred to as the granter) conveys the right to receive royalty payments to an individual or entity (referred to as the grantee) in exchange for certain considerations. The term "New York Term Royalty Deed" can be broken down into several keywords that are relevant to understanding the concept and purpose of this legal document. 1. New York: This keyword refers to the specific jurisdiction where the Term Royalty Deed is being used, indicating that it is governed by the laws and regulations of the state of New York. 2. Term: The term in a New York Term Royalty Deed specifies the duration or period of time during which the grantee will receive royalty payments. This term can vary depending on the agreement between the granter and grantee. 3. Royalty: Royalty refers to a payment made by someone who has acquired the rights to exploit certain resources, typically minerals or natural gas, to the owner of those resources. In the context of a New York Term Royalty Deed, it defines the payments that will be made to the grantee for the specified term. 4. Deed: A deed is a legal document that transfers ownership or rights of a property or asset from one party to another. In the case of a New York Term Royalty Deed, it refers to the conveyance of the right to receive royalties for a specific term. Types of New York Term Royalty Deeds: 1. Oil and Gas Royalty Deed: This type of Term Royalty Deed is commonly used when granting the right to receive royalties from the extraction and production of oil or natural gas resources in New York. 2. Mineral Royalty Deed: A Mineral Royalty Deed allows the grantee to receive royalties specifically from the extraction and production of minerals, such as coal, metals, or industrial minerals, for the specified term. 3. Renewable Energy Royalty Deed: With a growing focus on renewable energy sources, New York Term Royalty Deeds can also pertain to royalties earned from the production and distribution of renewable energy sources like solar, wind, or biomass. In conclusion, a New York Term Royalty Deed involves the transfer of rights to receive royalty payments for a specific term or period in the state of New York. It can encompass various types, such as Oil and Gas Royalty Deeds, Mineral Royalty Deeds, or Renewable Energy Royalty Deeds, depending on the nature of the resources involved.

A New York Term Royalty Deed is a legal document used in the state of New York that grants a specific term or period of time during which a landowner or mineral rights' owner (referred to as the granter) conveys the right to receive royalty payments to an individual or entity (referred to as the grantee) in exchange for certain considerations. The term "New York Term Royalty Deed" can be broken down into several keywords that are relevant to understanding the concept and purpose of this legal document. 1. New York: This keyword refers to the specific jurisdiction where the Term Royalty Deed is being used, indicating that it is governed by the laws and regulations of the state of New York. 2. Term: The term in a New York Term Royalty Deed specifies the duration or period of time during which the grantee will receive royalty payments. This term can vary depending on the agreement between the granter and grantee. 3. Royalty: Royalty refers to a payment made by someone who has acquired the rights to exploit certain resources, typically minerals or natural gas, to the owner of those resources. In the context of a New York Term Royalty Deed, it defines the payments that will be made to the grantee for the specified term. 4. Deed: A deed is a legal document that transfers ownership or rights of a property or asset from one party to another. In the case of a New York Term Royalty Deed, it refers to the conveyance of the right to receive royalties for a specific term. Types of New York Term Royalty Deeds: 1. Oil and Gas Royalty Deed: This type of Term Royalty Deed is commonly used when granting the right to receive royalties from the extraction and production of oil or natural gas resources in New York. 2. Mineral Royalty Deed: A Mineral Royalty Deed allows the grantee to receive royalties specifically from the extraction and production of minerals, such as coal, metals, or industrial minerals, for the specified term. 3. Renewable Energy Royalty Deed: With a growing focus on renewable energy sources, New York Term Royalty Deeds can also pertain to royalties earned from the production and distribution of renewable energy sources like solar, wind, or biomass. In conclusion, a New York Term Royalty Deed involves the transfer of rights to receive royalty payments for a specific term or period in the state of New York. It can encompass various types, such as Oil and Gas Royalty Deeds, Mineral Royalty Deeds, or Renewable Energy Royalty Deeds, depending on the nature of the resources involved.