This form is used to when it has been discovered that through a drafting error the (Fraction or Percentage ) interest in the mineral estate conveyed in a Deed was stated incorrectly. It is the purpose of this instrument and the intention of Grantor and Grantee to correct this error, and to accurately state the actual mineral interest intended to be conveyed by the Deed.
Correction to Mineral Deed As to Interest Conveyed
Category:
State:
Multi-State
Control #:
US-OG-314
Format:
Word;
Rich Text
Instant download
Description
How to fill out Correction To Mineral Deed As To Interest Conveyed?
When it comes to drafting a legal document, it is better to delegate it to the professionals. However, that doesn't mean you yourself cannot find a template to utilize. That doesn't mean you yourself can’t get a template to utilize, nevertheless. Download Correction to Mineral Deed As to Interest Conveyed right from the US Legal Forms website. It offers a wide variety of professionally drafted and lawyer-approved documents and samples.
For full access to 85,000 legal and tax forms, users just have to sign up and choose a subscription. When you are registered with an account, log in, search for a particular document template, and save it to My Forms or download it to your device.
To make things much easier, we’ve included an 8-step how-to guide for finding and downloading Correction to Mineral Deed As to Interest Conveyed fast:
- Make sure the document meets all the necessary state requirements.
- If available preview it and read the description before purchasing it.
- Press Buy Now.
- Select the appropriate subscription for your requirements.
- Create your account.
- Pay via PayPal or by credit/credit card.
- Choose a needed format if several options are available (e.g., PDF or Word).
- Download the document.
As soon as the Correction to Mineral Deed As to Interest Conveyed is downloaded you may complete, print and sign it in any editor or by hand. Get professionally drafted state-relevant files within a matter of minutes in a preferable format with US Legal Forms!
Form popularity
FAQ
V. to transfer title (official ownership) to real property (or an interest in real property) from one (grantor) to another (grantee) by a written deed (or an equivalent document such as a judgment of distribution which conveys real property from an estate).
A: Mineral rights are the legal rights to the minerals in a property. Whoever owns a property's mineral rights has full legal rights to mine for and profit from those minerals.
A mineral owner's rights typically include the right to use the surface of the land to access and mine the minerals owned. This might mean the mineral owner has the right to drill an oil or natural gas well, or excavate a mine on your property.
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.)
A deed that names the seller/donor and the purchaser/donee. It states and describes the rights being sold or given. Filing of the notarized conveyance in the county government office which is generally the county clerk's office.
Conveyance Documents An operator may ask you to sign a Cross-Conveyance and Stipulation of Interest document to clarify ownership when there are any ambiguities with previous conveyances when concurrent ownership (multiple people) is involved. If you have this document, keep it along with any deeds.
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.
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.
As a mineral rights value rule of thumb, the 3X cash flow method is often used. To calculate mineral rights value, multiply the 12-month trailing cash flow by 3. For a property with royalty rights, a 5X multiple provides a more accurate valuation (stout.com).
