Utah Term Mineral Deed of Undivided Interest

• Category: Oil Gas and Minerals - Deeds
• State: Multi-State
• Control #: US-OG-064
• Format: Word; Rich Text

Description

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. Utah Term Mineral Deed of Undivided Interest is a legal document used in the state of Utah to transfer ownership rights of mineral interests in a certain period of time. This type of deed denotes a specific term or duration for which the mineral interest is transferred. It is important to note that the term mineral deed only transfers the interest in the minerals and not the surface rights of the property. There are various types of Utah Term Mineral Deeds of Undivided Interest that are commonly used depending on the specific circumstances and requirements: 1. Fixed Term Mineral Deed: This type of deed transfers the mineral interest for a specified period, typically known as the term. It explicitly states the starting and ending dates of the term during which the transferred interest applies. 2. Extension Clause Mineral Deed: An extension clause allows the grantee to extend the term of the mineral interest beyond the initial agreed-upon period. This type of deed provides flexibility in the duration of the mineral interest in allowing for an extension if desired by the grantee. 3. Royalty Interest Mineral Deed: Unlike a standard mineral deed, which transfers the entire mineral interest, a royalty interest mineral deed only transfers a portion of the mineral interest, usually in the form of royalties. This ensures that the grantee receives a portion of the profits generated from the extracted minerals. 4. Non-Participating Mineral Interest Deed: This type of deed grants the recipient an undivided interest in the minerals but without the right to participate in mineral exploration or extraction activities on the property. The grantee receives royalty payments based on their interest but does not have decision-making abilities regarding mining operations. Utah Term Mineral Deeds of Undivided Interest are commonly used in situations where owners of mineral rights wish to temporarily transfer their interests to other parties, typically for the purpose of exploration or extraction. These deeds provide a legal framework for the transfer, outlining the duration and terms of the arrangement between the granter (owner) and the grantee (recipient). It is essential to consult with a qualified attorney or legal expert familiar with Utah's mineral laws to ensure the proper documentation and compliance with all applicable regulations.

Utah Term Mineral Deed of Undivided Interest is a legal document used in the state of Utah to transfer ownership rights of mineral interests in a certain period of time. This type of deed denotes a specific term or duration for which the mineral interest is transferred. It is important to note that the term mineral deed only transfers the interest in the minerals and not the surface rights of the property. There are various types of Utah Term Mineral Deeds of Undivided Interest that are commonly used depending on the specific circumstances and requirements: 1. Fixed Term Mineral Deed: This type of deed transfers the mineral interest for a specified period, typically known as the term. It explicitly states the starting and ending dates of the term during which the transferred interest applies. 2. Extension Clause Mineral Deed: An extension clause allows the grantee to extend the term of the mineral interest beyond the initial agreed-upon period. This type of deed provides flexibility in the duration of the mineral interest in allowing for an extension if desired by the grantee. 3. Royalty Interest Mineral Deed: Unlike a standard mineral deed, which transfers the entire mineral interest, a royalty interest mineral deed only transfers a portion of the mineral interest, usually in the form of royalties. This ensures that the grantee receives a portion of the profits generated from the extracted minerals. 4. Non-Participating Mineral Interest Deed: This type of deed grants the recipient an undivided interest in the minerals but without the right to participate in mineral exploration or extraction activities on the property. The grantee receives royalty payments based on their interest but does not have decision-making abilities regarding mining operations. Utah Term Mineral Deeds of Undivided Interest are commonly used in situations where owners of mineral rights wish to temporarily transfer their interests to other parties, typically for the purpose of exploration or extraction. These deeds provide a legal framework for the transfer, outlining the duration and terms of the arrangement between the granter (owner) and the grantee (recipient). It is essential to consult with a qualified attorney or legal expert familiar with Utah's mineral laws to ensure the proper documentation and compliance with all applicable regulations.