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Royalty Deed with Limited Warranty

Rhode Island Royalty Deed with Limited Warranty

Name: Rhode Island Royalty Deed with Limited Warranty
Brand: US Legal Forms
Rating: 4.88 (242 reviews)

Category:

Oil Gas and Minerals - Deeds

State:

Multi-State

Control #:

US-OG-043

Format:

Instant download

Description

This form conveys a royalty interest with a limited warranty. Rhode Island Royalty Deed with Limited Warranty is a legal document used in Rhode Island real estate transactions that conveys the ownership of mineral rights or royalties from oil, gas, or other natural resources. This type of deed provides the buyer with limited guarantees and protections regarding the ownership and validity of the conveyed royalty interests. A Rhode Island Royalty Deed with Limited Warranty typically includes essential details such as the names of the granter (seller) and grantee (buyer), a detailed legal description of the property, and a statement explicitly defining the conveyed royalty rights. It also contains specific language limiting the warranties provided by the granter, implying that they only guarantee they have not encumbered the royalty interest and that they have the authority to convey it. The limited warranty in this type of deed means that the granter only warrants that they have not done anything to impair the title or royalty interest during their ownership. However, they do not provide extensive guarantees regarding the chain of title or past ownership history. It is essential to note that there are no specific subtypes or variations of the Rhode Island Royalty Deed with Limited Warranty mentioned in legal sources. However, it is always recommended consulting with a local real estate attorney to ensure compliance with any specific regional requirements or variations, as they may differ between jurisdictions. In summary, a Rhode Island Royalty Deed with Limited Warranty is a legal document used for conveying mineral rights or royalties related to natural resources. It provides limited guarantees and protections to the buyer, mainly assuring that the granter has not encumbered the conveyed royalty interest during their ownership. It is advised to seek professional legal advice to fully understand the implications and requirements of this type of deed in Rhode Island.

Rhode Island Royalty Deed with Limited Warranty is a legal document used in Rhode Island real estate transactions that conveys the ownership of mineral rights or royalties from oil, gas, or other natural resources. This type of deed provides the buyer with limited guarantees and protections regarding the ownership and validity of the conveyed royalty interests. A Rhode Island Royalty Deed with Limited Warranty typically includes essential details such as the names of the granter (seller) and grantee (buyer), a detailed legal description of the property, and a statement explicitly defining the conveyed royalty rights. It also contains specific language limiting the warranties provided by the granter, implying that they only guarantee they have not encumbered the royalty interest and that they have the authority to convey it. The limited warranty in this type of deed means that the granter only warrants that they have not done anything to impair the title or royalty interest during their ownership. However, they do not provide extensive guarantees regarding the chain of title or past ownership history. It is essential to note that there are no specific subtypes or variations of the Rhode Island Royalty Deed with Limited Warranty mentioned in legal sources. However, it is always recommended consulting with a local real estate attorney to ensure compliance with any specific regional requirements or variations, as they may differ between jurisdictions. In summary, a Rhode Island Royalty Deed with Limited Warranty is a legal document used for conveying mineral rights or royalties related to natural resources. It provides limited guarantees and protections to the buyer, mainly assuring that the granter has not encumbered the conveyed royalty interest during their ownership. It is advised to seek professional legal advice to fully understand the implications and requirements of this type of deed in Rhode Island.

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FAQ

A special warranty deed or limited warranty deed only guarantees that no title problems occurred during the time the seller has owned the property. That means the previous owner can't be held accountable for creditors' liens or other issues that occurred before they took possession of the home.

A warranty deed conveys an interest in real property to the named grantee with full warranties of title. Warranty deeds are statutory in Rhode Island under R.I.G.L. 34-11-15, and they convey real property in fee simple with the most assurance of title.

Due to this, quitclaim deeds typically are not used in situations where the property involved has an outstanding mortgage. After all, it would be difficult for many grantors to pay off a mortgage without proceeds from the sale of the property.

Special warranty deed. In a special warranty deed, the grantor only promises that no claims have made been against the property during the period of their ownership, and makes no guarantee about any time period before that. This is also sometimes called a limited warranty deed.

Rhode Island does NOT record by county. Recordings are to be sent to the appropriate City or Town recording office of the PROPERTY ADDRESS. All documents are returned immediately upon recording. If you are mailing in your document, please send to Property Records 43 Broadway Newport, R.I.

A warranty deed promises that the grantor holds good, clear title to a piece of real estate. It promises also that the grantor has the right and authority right to sell it to the grantee or buyer. A quitclaim deed, on the other hand, makes no promises about the quality of the title to the property.

A Rhode Island quit claim deed is a legal document that transfers a property title to a new owner (the ?grantee?) with a guarantee that the title has not been encumbered during the grantor's ownership period, but not that of previous owners.

General warranty deed It's the type of deed that offers the most buyer protection. When committing to a general warranty deed, the seller is promising there are no liens against the property, and if there were, the seller would compensate the buyer for those claims.

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Record the original completed deed, along with any additional materials, at the city or town clerk's office in the municipality where the property is located. ... Jul 21, 2020 — A valid general warranty deed usually contains the following information: The amount of consideration (purchase price), the names and addresses ...Rhode Island Warranty Deed Conveying Oil, Gas, and Minerals - Mineral Rights Transfer. To gain access to and download state-specific legal forms, ... BASIC OIL AND GAS FORMS PROGRAM · Gift Deed of Nonparticipating Royalty Interest (With no Warranty) · Royalty Deed (With Limited Warranty) · Term Nonparticipating ... Inform the Rhode Island Land Evidence Department where this paperwork should be mailed once the registration process is complete. Notice that the street ... Transfer ownership of a RI real estate property with this easy-to-use Rhode Island Special Warranty Deed form. The Rhode Island Medicaid State Plan and the Title XIX, Section 1115 (a) ... Basis of the transfer – Uses a warranty deed or quitclaim deed created, executed, and ... A “special warranty” is a covenant made by the lessor to defend the lessee against encumbrances or clouds on the oil and gas title created by the lessor during ... Section 280-RICR-20-25-9.8 - Single Sales Factor Apportionment and Market Based Sourcing (applicable to entities taxed as C corporations) A. Applicability ... Add the Warranty Deed from Individual to Husband and Wife - Rhode Island for editing. Click on the New Document option above, then drag and drop the file to ...

Rhode Island Royalty Deed with Limited Warranty

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What might also be called a limited warranty deed?

What is a warranty deed in RI?

In which of the following situations would a quitclaim deed not be used?

What type of deed is used to create warranties but limits them to the time period of ownership by the grantor?

How do I record a deed in Rhode Island?

What is the difference between a quitclaim deed and a warranty deed in Rhode Island?

What is a quit claim deed in RI?

What is the best type of deed for a house?

Interesting Questions

What is a Royalty Deed with Limited Warranty?

Who typically uses a Royalty Deed with Limited Warranty?

What does a Royalty Deed with Limited Warranty include?

Why is a limited warranty included in a Royalty Deed?

What are the limitations of a Royalty Deed with Limited Warranty?

What should I consider before using a Royalty Deed with Limited Warranty?

Can the limited warranty clause be negotiated in a Royalty Deed with Limited Warranty?

How can I enforce the terms of a Royalty Deed with Limited Warranty?

Can a Royalty Deed with Limited Warranty be transferred or assigned again?

What happens if the limited warranty is breached?

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