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Term Mineral Deed of Undivided Interest

Describe Fractional Interest In A Mineral Deed

Name: Term Mineral Deed of Undivided Interest
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.87 (473 reviews)

Category:

Oil Gas and Minerals - Deeds

State:

Multi-State

Control #:

US-OG-064

Format:

Instant download

Description Undivided Mineral Interest

This deed form conveys a mineral interest for a specified term, to be designated by the grantor, after which time, the conveyed interest reverts to the grantor.

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FAQ

After a divorce, mineral rights can be transferred by submitting the divorce decree and conveyances to the county (where the minerals are located) for recording. They usually go to the same agency that records titles and property deeds. The county will return the recorded original documents to the new owner.

A Non-Participating Royalty Interest (NPRI) is an interest in oil and gas production which is created from the mineral estate. Like the plain royalty interest it is expense-free, bearing no operational costs of production.

An owner can separate the mineral rights from his or her land by: Conveying (selling or otherwise transferring) the land but retaining the mineral rights. (This is accomplished by including a statement in the deed conveying the land that reserves all rights to the minerals to the seller.)

To calculate the number of net mineral acres owned by a mineral owner, we multiply the mineral owner's undivided interest in the tract by the number of acres in the tract. If I own a 1/4 mineral interest in Blackacre and Blackacre contains 640 acres, I own 1/4 X 640 = 160 net mineral acres.

The word undivided is added to indicate it is a partial interest in a tract and the owners have not agreed to partition the minerals among themselves.

Under Texas law, ownership of land includes ownership of minerals under the surface of the land.Mineral rights are a form of real property, and they are governed by the same principles of marital property law as other real estate. If the mineral rights were owned before marriage, they are separate property.

Fractional Undivided Interest means the undivided interest in the Pass Through Trust that is evidenced by an Outstanding Certificate expressed as a fraction of the total undivided interests in the Pass Through Trust represented by all Outstanding Certificates.

If you want to sell the mineral rights to another person, you can transfer them by deed. You will need to create a mineral deed and have it recorded. You should check with the county Recorder of Deeds in the county where the land is located and ask if a printed mineral deed form is available to use.

Definition from Nolo's Plain-English Law Dictionary Ownership right to use and possess property that is shared by two or more co-owners. No individual co-owner has an exclusive right to any portion of the property.

Describe Fractional Interest In A Mineral Deed

Description Undivided Mineral Interest

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Are mineral rights transferable?

What is a non participating mineral interest?

How do you convey mineral rights?

How do you calculate mineral interest?

What is an undivided mineral interest?

Are mineral interests real property in Texas?

What is a fractional undivided interest?

How do I change ownership of mineral rights?

What does undivided interest mean?

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