How to transfer property from one person to another in South Carolina?

New Owners Fill out a Transfer of Ownership form. This form must include the previous owner's signature as well as a notary signature. Send to the Division immediately.

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Gift Deed of Mineral Interest with No Warranty

South Carolina Gift Deed of Mineral Interest with No Warranty

Name: South Carolina Gift Deed of Mineral Interest with No Warranty
Brand: US Legal Forms
Rating: 4.74 (379 reviews)

Category:

Oil Gas and Minerals - Deeds

State:

Multi-State

Control #:

US-OG-059

Format:

Instant download

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This form of deed conveys an interest in minerals, as a gift. In States, such as Texas, recognizing community property, a gift deed creates separate property in the grantee. Title: Understanding South Carolina Gift Deed of Mineral Interest with No Warranty Introduction: The South Carolina Gift Deed of Mineral Interest with No Warranty is a legal document used for transferring ownership rights of mineral interests from the granter (the person giving the gift) to the grantee (the recipient). This type of deed is commonly used in South Carolina when the granter wants to gift their mineral interests without providing any guarantees or warranties regarding the title. The deed ensures a clear transfer of mineral rights while protecting the granter from any future claims or liabilities. Keywords: South Carolina, Gift Deed, Mineral Interest, No Warranty, Transfer of Ownership, Granter, Grantee, Title Guarantee, Legal Document. Types of South Carolina Gift Deed of Mineral Interest with No Warranty: 1. Standard South Carolina Gift Deed of Mineral Interest with No Warranty: This type of gift deed is the most common, ensuring a straightforward transfer of mineral interests from the granter to the grantee. It outlines the specific details regarding the property, granter, grantee, and the relinquishment of mineral rights without warranty. 2. South Carolina Gift Deed of Mineral Interest with Legal Description: In this variation, the gift deed includes an accurate and detailed legal description of the property. This is particularly useful when dealing with complex or large mineral tracts, ensuring clarity for both parties involved. 3. South Carolina Gift Deed of Mineral Interest with Reservation of Rights: In some cases, the granter may choose to reserve specific rights after transferring the mineral interest as a gift. These reserved rights may include future access, exploration, or surface use, while still gifting the primary mineral rights to the grantee. This type of gift deed explicitly states the scope and limitations of the reserved rights. 4. South Carolina Gift Deed with No Warranty Deed of Mineral Interest with Life Estate: A life estate gift deed grants the recipient (grantee) lifetime ownership and usage rights to the mineral interests, while the granter retains the right to any remaining interest until their death. After the granter's passing, the full ownership is transferred to the grantee without warranty. Keywords: Standard, Legal Description, Reservation of Rights, Life Estate, Lifetime Ownership, Usage Rights. Conclusion: The South Carolina Gift Deed of Mineral Interest with No Warranty is a crucial legal document utilized for transferring mineral rights as a gift. By understanding and utilizing the different types of gift deeds available, both the granter and grantee can ensure a smooth transfer of ownership while safeguarding their interests. It is always recommended consulting with a legal professional when preparing and executing such gift deeds to ensure compliance with state laws and regulations. Keywords: Transfer of Ownership, Gift Deed, Compliance, State Laws, Legal Professional.

Title: Understanding South Carolina Gift Deed of Mineral Interest with No Warranty Introduction: The South Carolina Gift Deed of Mineral Interest with No Warranty is a legal document used for transferring ownership rights of mineral interests from the granter (the person giving the gift) to the grantee (the recipient). This type of deed is commonly used in South Carolina when the granter wants to gift their mineral interests without providing any guarantees or warranties regarding the title. The deed ensures a clear transfer of mineral rights while protecting the granter from any future claims or liabilities. Keywords: South Carolina, Gift Deed, Mineral Interest, No Warranty, Transfer of Ownership, Granter, Grantee, Title Guarantee, Legal Document. Types of South Carolina Gift Deed of Mineral Interest with No Warranty: 1. Standard South Carolina Gift Deed of Mineral Interest with No Warranty: This type of gift deed is the most common, ensuring a straightforward transfer of mineral interests from the granter to the grantee. It outlines the specific details regarding the property, granter, grantee, and the relinquishment of mineral rights without warranty. 2. South Carolina Gift Deed of Mineral Interest with Legal Description: In this variation, the gift deed includes an accurate and detailed legal description of the property. This is particularly useful when dealing with complex or large mineral tracts, ensuring clarity for both parties involved. 3. South Carolina Gift Deed of Mineral Interest with Reservation of Rights: In some cases, the granter may choose to reserve specific rights after transferring the mineral interest as a gift. These reserved rights may include future access, exploration, or surface use, while still gifting the primary mineral rights to the grantee. This type of gift deed explicitly states the scope and limitations of the reserved rights. 4. South Carolina Gift Deed with No Warranty Deed of Mineral Interest with Life Estate: A life estate gift deed grants the recipient (grantee) lifetime ownership and usage rights to the mineral interests, while the granter retains the right to any remaining interest until their death. After the granter's passing, the full ownership is transferred to the grantee without warranty. Keywords: Standard, Legal Description, Reservation of Rights, Life Estate, Lifetime Ownership, Usage Rights. Conclusion: The South Carolina Gift Deed of Mineral Interest with No Warranty is a crucial legal document utilized for transferring mineral rights as a gift. By understanding and utilizing the different types of gift deeds available, both the granter and grantee can ensure a smooth transfer of ownership while safeguarding their interests. It is always recommended consulting with a legal professional when preparing and executing such gift deeds to ensure compliance with state laws and regulations. Keywords: Transfer of Ownership, Gift Deed, Compliance, State Laws, Legal Professional.

Quitclaim Deed for Mineral / Royalty Interest

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FAQ

New Owners Fill out a Transfer of Ownership form. This form must include the previous owner's signature as well as a notary signature. Send to the Division immediately.

The prior owner conveying the property is primarily responsible for payment, and the new owner is secondarily responsible. The deed-recording fee rate is $1.85 for each $500.00 of the real estate's value.

Preparation & Execution MUST be completed prior to attempting to record the document in the Register of Deeds. Please note: South Carolina is an Attorney State when it comes to Deed preparation. Any preparation by an individual is considered an unauthorized practice of law.

In South Carolina, a quit claim deed is a real property deed that only transfers interest in the property to the grantor who has a title. Unlike a warranty deed, a South Carolina quit claim deed does not guarantee good title to the property.

In South Carolina, the grantor must sign the deed in front of two witnesses and in the presence of an individual authorized by the state to administer an oath. Record the completed deed at the local county Recorder's office, along with an Affidavit of True Consideration (S.C. Code Ann.

The transfer tax is a percentage of the appraised value of the property or the sale price. In South Carolina, you have a combined state and local transfer tax of 0.37% on the sale price (or $1.85 for every $500).

Gift Deed or Warranty Deed? Words Have Consequences. Generally, in an unambiguous deed, parol evidence cannot be used to ascertain the intent of the parties, so a warranty deed will be held to be a purchase and not a gift, and gift deed will be a gift. Parol evidence will not be received to contradict the instrument.

Along with vesting the property with the new owner and defining the warranty, a general warranty deed must satisfy South Carolina's general requirements for a valid conveyance. All South Carolina deeds must include the current owner's signature?acknowledged before a notary?and signatures of two witnesses.

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Download the document. Once the Gift Deed of Mineral Interest with No Warranty is downloaded you may fill out, print out and sign it in almost any editor or ... Nov 2, 2018 — As with any conveyance of real estate, a gift deed requires a complete legal description of the parcel. Recite the source of title to establish ...Make the steps below to fill out Gift Deed of Mineral Interest with No Warranty online quickly and easily: Log in to your account. Sign up with your ... Record the completed deed at the local county Recorder's office, along with an Affidavit of True Consideration (S.C. Code Ann. 12-24-70(A)(1)). BASIC OIL AND GAS FORMS PROGRAM · Correction to Mineral Deed (As to Interest Conveyed) · Gift Deed of Mineral Interest (With no Warranty) · Mineral Deed (Reserving ... This deed usually does not include warranties as to the title of the property ... A mineral deed conveys the rights to subsurface land or profits. Quitclaim Deed. A quitclaim deed releases the grantor's interest in property without stating the nature of the person's interest or rights, and with no warranties of ownership ... In any questionable situation, contact Agents National Title legal counsel before issuing the Company's commitment or policy. Also, run the grantor(s) name for ... May 21, 2023 — Information about South Carolina deed law, including quitclaim deed form, special warranty deed form, and warranty deed form. Download our warranty deed form to transfer a piece of real property (e.g., land, home, or building) to a new owner.

South Carolina Gift Deed of Mineral Interest with No Warranty

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FAQ

How to transfer property from one person to another in South Carolina?

How much does it cost to transfer a deed in SC?

Does an attorney have to prepare a deed in SC?

What is a quit claim deed in SC?

How do I gift land in SC?

What is the transfer tax on real property in SC?

What is the difference between a special warranty deed and a gift deed in Texas?

How do I get a warranty deed in SC?

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What is a Gift Deed of Mineral Interest with No Warranty?

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What does 'No Warranty' mean in a Gift Deed of Mineral Interest?

What risks are associated with a Gift Deed of Mineral Interest with No Warranty?

Can a Gift Deed of Mineral Interest with No Warranty be revoked?

Do I need a lawyer to create a Gift Deed of Mineral Interest with No Warranty?

Can the recipient of a Gift Deed sell or transfer the mineral rights?

What happens if someone claims a defect in the gifted mineral rights?

Can the original owner still profit from the mineral rights after gifting them with No Warranty?

What information should be included in a Gift Deed of Mineral Interest with No Warranty?

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