This form is a Quitclaim Deed where the Grantor is an individual transferring mineral rights to three individual Grantees as joint tenants with the right of survivorship. Grantor conveys and quitclaims the described property interest to Grantees. This deed complies with all state statutory laws.
Wichita Kansas Quitclaim Deed - Mineral Rights - From Individual to three Individuals - Transfer
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State:
Kansas
City:
Wichita
Control #:
KS-023-77
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Word;
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How to fill out Wichita Kansas Quitclaim Deed - Mineral Rights - From Individual To Three Individuals - Transfer?
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Oil and gas rights, also known as ?mineral interests? are the right to the oil and gas potentially existing under the surface of real estate. A deed from one person to another automatically passes both the surface rights and the oil and gas rights to the new owners unless the deed specifically states otherwise.
A Kansas quitclaim deed form transfers whatever right the current owner holds?if any?with no warranty of title. The person signing the deed does not promise that the title is clear or that the signer owns a valid interest in the real estate.
The alternative spellings quit claim deed and quit-claim deed are generally acceptable?though used less frequently. Oklahoma legal professionals also use the word quitclaim as a verb indicating that an owner is transferring an interest without warranty. Release deed can be a synonym for quitclaim deed in some contexts.
The current owner and any co-owners?if the property is co-owned and the deed transfers more than one co-owner's rights?must sign the deed, and a notary must complete the acknowledgment block. The owner's spouse may also need to consent to the transfer by signing the deed.
As a general rule of thumb, you can expect for the mineral rights value in Kansas of leased properties to be 2x to 3x the lease bonus amount. It may take a little time to sell mineral rights in Kansas that aren't producing, but there will definitely be mineral rights buyers interested.
Recording ? A quitclaim deed must be filed with the County Recorder's Office where the real estate is located. Go to your County Website to locate the office nearest you. Signing (§ 58-2205) ? A quitclaim deed is required to be authorized with a notary public present.
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.
Mineral rights are conveyed ? meaning transferred to a new owner ? through a deed. At the time of the initial conveyance, the property deed will include the separation of the surface and mineral rights. Subsequent land deeds will not reference the mineral rights transfer.
A deed in which a grantor disclaims all interest in a parcel of real property and then conveys that interest to a grantee. Unlike grantors in other types of deeds, the quitclaim grantor does not promise that his interest in the property is actually valid.
In Kansas, like in many other states, the mineral estate is considered as being 'dominant' over the surface estate to allow the owner of the oil, gas and other minerals to exploit and extract the gas and oil from underneath the land, and to use as much of the surface estate as is necessary to explore for and develop
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