Rhode Island Mineral Deed with Grantor Reserving Executive Rights in the Interest Conveyed - Transfer

State:
Multi-State
Control #:
US-OG-060
Format:
Word; 
Rich Text
Instant download

Description

This form of deed conveys the grantee a specified undivided mineral interest, with the grantor reserving the right to sign leases (the executive right) on the interest conveyed.

How to fill out Mineral Deed With Grantor Reserving Executive Rights In The Interest Conveyed - Transfer?

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FAQ

In the State of WV, minerals are considered property and therefore fall under the Ad Valorem Property Tax.

Minerals include gold, silver, coal, oil, and gas. If you want to transfer the rights to these minerals to another party, you can do so in a variety of ways: by deed, will, or lease. Before you transfer mineral rights, you should confirm that you own the rights that you seek to transfer.

Whether mineral rights transfer with the property depends on the estate type. If it's a severed estate, surface rights and mineral rights are separate and do not transfer together. However, if it's a unified estate, the land and the mineral rights can be conveyed with the property.

Transfer By Will It is also possible to transfer or pass down mineral rights by will. The right to minerals transfers at the time of death to the individuals named as beneficiaries. If no specific beneficiaries to the mineral rights are designated, ownership passes to the property and real estate heir.

The most common way is through a will or estate plan. When the mineral rights owner dies, their heirs will become the new owners. Another way to transfer mineral rights is through a lease. If the mineral rights are leased to a third party, the new owner will need approval from the current lessee to claim them.

A mineral rights owner does not necessarily have to own the land property itself but must have a legal agreement with the property owner. In North Dakota, mineral rights can be transferred in three ways: deed, probate or court action.

After confirming your legal ownership with an attorney at law, you need to draw up a deed of transfer form in your name and register it with the county records office as the mineral owner. The land transaction, leasing transaction, and royalty compliance go through the county office.

Like surface interests, mineral interests are passed down by inheritance. If there is a valid will, it controls who gets the property. If not, Texas laws of heirship controls.

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Rhode Island Mineral Deed with Grantor Reserving Executive Rights in the Interest Conveyed - Transfer