The Oregon Term Royalty Deed that Terminates Upon Expiration of Lease is a legal document used in the state of Oregon to convey mineral rights and associated royalties to a party, subject to the termination of the lease upon its expiration. In this type of deed, the granter transfers the rights to the grantee for a specified term, typically the duration of the lease, and the rights automatically revert to the granter upon the lease's expiration. This type of deed is commonly used in the context of oil, gas, or mineral leases, where the granter wishes to assign the rights to the royalties generated from the extraction of minerals during the active term of the lease. The termination clause ensures that once the lease ends, the grantee's rights are automatically terminated, and the rights revert to the original owner. There can be variations of the Oregon Term Royalty Deed that Terminates Upon Expiration of Lease, depending on specific circumstances and desired terms. For instance, there may be deeds that specify different termination conditions or that include additional provisions regarding the use, access, or exploration of the mineral rights. The parties involved can negotiate customized terms to accommodate their particular needs and interests. When using an Oregon Term Royalty Deed that Terminates Upon Expiration of Lease, it is essential to ensure that all legal requirements are met, and the deed complies with Oregon state laws and regulations. Consulting with a qualified attorney experienced in mineral rights and property law is highly recommended drafting and review the deed accurately, protecting the interests of both the granter and the grantee. In summary, the Oregon Term Royalty Deed that Terminates Upon Expiration of Lease is a legal instrument used to transfer mineral rights and associated royalties for a specified term, with the rights automatically reverting to the granter upon the expiration of the lease. It offers flexibility in customizing the deed to meet specific requirements, and professional legal assistance is advisable throughout the drafting and review process.
Oregon Term Royalty Deed that Terminates Upon Expiration of Lease
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How to fill out Oregon Term Royalty Deed That Terminates Upon Expiration Of Lease?
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