New York 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 York Mineral Deed with Limited Warranty is a legal document used to transfer ownership of mineral rights from a granter to a grantee. This type of deed provides limited protection for the grantee against any claims or defects in the title, specifically related to the mineral rights being transferred. In New York, there are different types of Mineral Deeds with Limited Warranty, including: 1. Oil and Gas Mineral Deed with Limited Warranty: This type of deed is specific to the transfer of oil and gas rights between parties. It ensures that the grantee receives the specified mineral rights without any warranty against possible title issues. 2. Coal Mineral Deed with Limited Warranty: This deed is designed for the transfer of coal rights in New York. It guarantees that the granter has the authority to convey the coal rights but provides limited warranty against potential title defects. 3. Metallic Mineral Deed with Limited Warranty: This specific type of limited warranty deed is commonly used for the transfer of ownership of metallic minerals such as gold, silver, copper, or iron. It offers limited warranty protection, safeguarding the grantee against known defects but not future claims that may arise. Regardless of the specific type, a New York Mineral Deed with Limited Warranty generally contains the following key elements: — Parties Involved: The deed identifies and includes the names, addresses, and roles of both the granter (seller) and the grantee (buyer). — Property Description: The deed includes a detailed legal description of the property where the mineral rights are being transferred. This may include a specific property address, boundaries, metes and bounds, or section and township information. — Transfer of Mineral Rights: The deed explicitly states the transfer of ownership of the mineral rights from the granter to the grantee. It should clearly outline the extent of the rights being conveyed, including any limitations or reservations. — Limited Warranty: The deed includes a limited warranty clause, stating that the granter guarantees that they have the right to transfer the mineral rights being conveyed, but provides limited protection against title claims or defects arising from the granter's actions. — Consideration: This section specifies the consideration, typically the agreed-upon purchase price or any other form of payment the grantee provides to the granter for the transfer of the mineral rights. It is essential to consult with a qualified attorney or legal professional when executing a New York Mineral Deed with Limited Warranty to ensure compliance with state laws and to fully understand the implications and limitations of the limited warranty provision.

A New York Mineral Deed with Limited Warranty is a legal document used to transfer ownership of mineral rights from a granter to a grantee. This type of deed provides limited protection for the grantee against any claims or defects in the title, specifically related to the mineral rights being transferred. In New York, there are different types of Mineral Deeds with Limited Warranty, including: 1. Oil and Gas Mineral Deed with Limited Warranty: This type of deed is specific to the transfer of oil and gas rights between parties. It ensures that the grantee receives the specified mineral rights without any warranty against possible title issues. 2. Coal Mineral Deed with Limited Warranty: This deed is designed for the transfer of coal rights in New York. It guarantees that the granter has the authority to convey the coal rights but provides limited warranty against potential title defects. 3. Metallic Mineral Deed with Limited Warranty: This specific type of limited warranty deed is commonly used for the transfer of ownership of metallic minerals such as gold, silver, copper, or iron. It offers limited warranty protection, safeguarding the grantee against known defects but not future claims that may arise. Regardless of the specific type, a New York Mineral Deed with Limited Warranty generally contains the following key elements: — Parties Involved: The deed identifies and includes the names, addresses, and roles of both the granter (seller) and the grantee (buyer). — Property Description: The deed includes a detailed legal description of the property where the mineral rights are being transferred. This may include a specific property address, boundaries, metes and bounds, or section and township information. — Transfer of Mineral Rights: The deed explicitly states the transfer of ownership of the mineral rights from the granter to the grantee. It should clearly outline the extent of the rights being conveyed, including any limitations or reservations. — Limited Warranty: The deed includes a limited warranty clause, stating that the granter guarantees that they have the right to transfer the mineral rights being conveyed, but provides limited protection against title claims or defects arising from the granter's actions. — Consideration: This section specifies the consideration, typically the agreed-upon purchase price or any other form of payment the grantee provides to the granter for the transfer of the mineral rights. It is essential to consult with a qualified attorney or legal professional when executing a New York Mineral Deed with Limited Warranty to ensure compliance with state laws and to fully understand the implications and limitations of the limited warranty provision.