This form is a Special Warranty Deed where the Grantor is a Trust with two Trustees and the Grantee is an individual. Grantors convey and specially warrant the described property to the Grantee. The Grantors only warrant and will defend the property only as to claims of persons claiming by, through or under Grantors, but not otherwise. This deed complies with all state statutory laws.
A Special Warranty Mineral Deed from a Trust in Oklahoma City, Oklahoma is a legal document that transfers ownership of mineral rights from a trust, which is managed by two trustees, to an individual. This type of deed provides a limited warranty of title, meaning that the trustees guarantee the mineral rights against any claims or issues that may have arisen only during their period of ownership. In Oklahoma City, there are different variations of this Special Warranty Mineral Deed from a Trust (Two Trustees) to an Individual, each addressing specific situations or conditions that may occur during the transfer of mineral rights. These include: 1. Oklahoma City Oklahoma Special Warranty Mineral Deed with Surface Exception: This type of deed excludes the transfer of surface rights and focuses solely on the mineral rights within the property. It ensures that only the minerals and related resources are transferred to the individual, without any claims on the land's surface. 2. Oklahoma City Oklahoma Special Warranty Mineral Deed with Royalty Reservation: This variant allows the trustees of the trust to retain a portion of the royalties generated from the extracted minerals. The individual receiving the mineral rights will be entitled to a specific percentage of the royalties, while the trustees maintain a reserved interest in the remaining percentage. 3. Oklahoma City Oklahoma Special Warranty Mineral Deed subject to Existing Leases: In cases where the mineral rights in the trust are currently leased to third parties, this type of deed acknowledges and transfers those existing lease agreements to the individual. The individual acquiring the mineral rights will then become the new benefactor of the leased agreements and will receive any future benefits outlined in those agreements. It is important to note that these variations of the Special Warranty Mineral Deed from a Trust (Two Trustees) to an Individual serve to provide specific conditions or exceptions that may be necessary for a successful and efficient transfer of mineral rights in Oklahoma City, Oklahoma. Taking into account the unique circumstances of each transaction can help ensure a smooth and legally binding transfer process.
