A South Dakota Mineral Deed with Granter Reserving Executive Rights in the Interest Conveyed — Transfer is a legal document used to transfer ownership of mineral rights from the granter to the grantee, while allowing the granter to retain certain executive rights. This type of mineral deed is commonly used in South Dakota when conveying mineral interests and ensures that the granter maintains control over important decision-making processes. Keywords: South Dakota, mineral deed, granter, grantee, executive rights, interest conveyed, transfer, ownership, decision-making, mineral interests Types of South Dakota Mineral Deeds with Granter Reserving Executive Rights in the Interest Conveyed — Transfer: 1. Nonparticipating Royalty Interest Deeds: This type of mineral deed allows the granter to retain executive rights over the royalty interest conveyed to the grantee. The granter will still receive their share of royalties from the mineral production, but they will not have any decision-making power regarding exploration or production activities. 2. Mineral Leasehold Deeds: These deeds transfer ownership of the mineral leasehold interest to the grantee, but the granter reserves executive rights in terms of executing leases, negotiating terms, and receiving bonuses or rentals. The granter maintains control over decisions related to leasing and can benefit from any future lease agreements. 3. Overriding Royalty Interest Deeds: This type of mineral deed grants the grantee an overriding royalty interest, while the granter retains executive rights in the interest conveyed. Overriding royalty interests provide a share of royalties from production, usually limited to a specific percentage, without any ownership in the minerals themselves. The granter can still exercise executive rights regarding the interest conveyed. 4. Working Interest Deeds: In this type of mineral deed, the granter transfers the working interest in the mineral property to the grantee, while reserving the executive rights in the conveyed interest. Working interests give the grantee the right to participate in the exploration, development, and production of the minerals, but the granter retains decision-making authority over the interest conveyed. It is essential to consult with a legal professional familiar with South Dakota mineral laws to ensure the proper drafting and execution of a South Dakota Mineral Deed with Granter Reserving Executive Rights in the Interest Conveyed — Transfer.
South Dakota Mineral Deed with Grantor Reserving Executive Rights in the Interest Conveyed - Transfer
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FAQ
The term ?undivided interest? refers to a type of ownership in which multiple parties share ownership of a single asset without the property being physically divided among them. This is commonly seen in real estate, natural resource holdings, and certain types of financial investments.
In general terms, the executive right holder is the party who has the right to take or authorize actions which affect the exploration and development of the mineral estate, including the right to execute oil and gas leases. Non-executive mineral interest owners do not have the power to lease the minerals.
The ownership of rights to minerals, including oil and gas, contained in a tract of land. A mineral right is a real property interest and can be conveyed independently of the surface estate.
This is an estate or ownership in fee simple in and to the minerals. A conveyance or reservation of a mineral fee gives title to the minerals. The ownership of a mineral interest includes all ownership, including the right to execute oil, gas and mineral leases and the right to receive bonuses, rentals and royalties.
The general rule is that when full effect cannot be given to both the granted interest and to a reserved interest, the courts will give priority to the granted interest, rather than to the reserved interest, until the granted interest if fully satisfied.
Primary tabs. An undivided interest means that two or more persons have an interest in a property held under the same title. The undivided interest encompasses the whole property, and its holders have equal rights to the entire property. The undivided interest is not separated into parts or shares.
Mineral Interest (MI) When the mineral rights are conveyed to another person or entity, they are ?severed? from the land, and a separate chain of title begins. When a person owns less than 100% of the minerals, they are said to own a fractional or undivided mineral interest.
A royalty deed gives its holder the right to receive a percentage of the profits from the sale of the minerals, if and when they are actually produced. This kind of legal document does not convey all of the mineral rights to the holder, only the right to receive royalties.
