Dallas Texas Oil, Gas and Mineral Deed from an Individual to a Corporation

State:
Texas
County:
Dallas
Control #:
TX-0102-78
Format:
Word; 
Rich Text
Instant download

Description

This form is a Mineral Deed where the Grantor is an individual and the and the Grantee is a corporation. Grantor conveys and warrants the described property to the Grantee. This deed complies with all state statutory laws.


Dallas Texas Oil, Gas, and Mineral Deeds from an Individual to a Corporation are legal agreements that transfer ownership rights of oil, gas, and mineral interests located within the Dallas area from an individual or multiple individuals to a corporate entity. These deeds play a significant role in the exploration, development, and extraction of valuable resources in the region. There are various types of Dallas Texas Oil, Gas, and Mineral Deeds from an Individual to a Corporation, each with distinct purposes and conditions. Some commonly known types include: 1. Dallas Texas Oil Lease Deeds: These deeds grant the corporate entity the right to explore, drill, and extract oil from a specific land parcel within the Dallas area. They outline the terms and conditions of the lease, including the payment of royalties or bonuses to the individual granter. 2. Dallas Texas Gas Lease Deeds: Similar to oil lease deeds, gas lease deeds allow corporations to access and extract natural gas reserves from specified properties. The agreements cover leasing terms, royalty rates, and operational requirements for efficient gas extraction. 3. Dallas Texas Mineral Deeds: These deeds focus on the transfer of mineral rights, such as coal, limestone, or precious metals, from an individual to a corporation. The deeds lay out the terms and provisions regarding mineral exploration, extraction, and royalty payments. 4. Dallas Texas Oil, Gas, and Mineral Assignment Deeds: Assignment deeds facilitate the transfer of existing oil, gas, or mineral lease from individual owners to corporate entities. It ensures a smooth handover of responsibilities, ownership rights, and financial obligations associated with the leased properties. In all these deed types, specific keywords play a crucial role in understanding and drafting the legal documentation. Keywords such as "granter," "grantee," "lease term," "royalty payment," "operational rights," "surface rights," "subsidiary rights," "non-participating interest," "exploration rights," "drilling obligations," are commonly used to define the rights and obligations of both parties involved in the agreement. When drafting or reviewing a Dallas Texas Oil, Gas, and Mineral Deed from an Individual to a Corporation, it is crucial to consult with legal professionals experienced in oil, gas, and mineral law to ensure all relevant keywords, conditions, and provisions are accurately included and comprehended to protect the interests of both parties.

Dallas Texas Oil, Gas, and Mineral Deeds from an Individual to a Corporation are legal agreements that transfer ownership rights of oil, gas, and mineral interests located within the Dallas area from an individual or multiple individuals to a corporate entity. These deeds play a significant role in the exploration, development, and extraction of valuable resources in the region. There are various types of Dallas Texas Oil, Gas, and Mineral Deeds from an Individual to a Corporation, each with distinct purposes and conditions. Some commonly known types include: 1. Dallas Texas Oil Lease Deeds: These deeds grant the corporate entity the right to explore, drill, and extract oil from a specific land parcel within the Dallas area. They outline the terms and conditions of the lease, including the payment of royalties or bonuses to the individual granter. 2. Dallas Texas Gas Lease Deeds: Similar to oil lease deeds, gas lease deeds allow corporations to access and extract natural gas reserves from specified properties. The agreements cover leasing terms, royalty rates, and operational requirements for efficient gas extraction. 3. Dallas Texas Mineral Deeds: These deeds focus on the transfer of mineral rights, such as coal, limestone, or precious metals, from an individual to a corporation. The deeds lay out the terms and provisions regarding mineral exploration, extraction, and royalty payments. 4. Dallas Texas Oil, Gas, and Mineral Assignment Deeds: Assignment deeds facilitate the transfer of existing oil, gas, or mineral lease from individual owners to corporate entities. It ensures a smooth handover of responsibilities, ownership rights, and financial obligations associated with the leased properties. In all these deed types, specific keywords play a crucial role in understanding and drafting the legal documentation. Keywords such as "granter," "grantee," "lease term," "royalty payment," "operational rights," "surface rights," "subsidiary rights," "non-participating interest," "exploration rights," "drilling obligations," are commonly used to define the rights and obligations of both parties involved in the agreement. When drafting or reviewing a Dallas Texas Oil, Gas, and Mineral Deed from an Individual to a Corporation, it is crucial to consult with legal professionals experienced in oil, gas, and mineral law to ensure all relevant keywords, conditions, and provisions are accurately included and comprehended to protect the interests of both parties.

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FAQ

While both surface and mineral rights are generally conveyed when the landowner acquires the land, it is far more common for the seller to retain mineral rights than surface rights (or for prior sellers in the chain of title of the property to have retained the mineral rights).

Mineral interests are defined by the Texas Property Tax Code as real property and are subject to taxes the same as all other real property.

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. If the mineral rights were acquired during marriage by gift or inheritance, they are separate property.

Call the county where the minerals are located and ask how to transfer mineral ownership after death....They will probably require the following: Copy of the Death Certificate. Copy of the recorded will (or Affidavit of Heirship if there was no will) Probate documents. Completed W9 Form with the new owners' information.

But, if after 10 years the mineral rights are not being exploited (there is no oil and gas exploration or production), then the mineral rights revert to the new surface owner.

Like surface interests, mineral interests are passed down by inheritance. If there is a valid will, it controls who gets the property. If not, Texas laws of heirship controls.

In Texas, Oklahoma, Colorado and Montana, mineral owners can own the mineral rights indefinitely and there is no way for them to passively revert to the surface owner. If a surface owner wants to own the mineral rights under their land, they must find and contact the mineral owners and offer to purchase them.

Transfer Your Mineral Rights Transfer by deed: You can sell your mineral rights to another person or company by deed. Transfer by will: You can specify who you want to inherit your mineral rights in your will. Transfer by lease: You can lease mineral rights to a third party through a lease agreement.

Mineral rights are the rights to minerals and natural resources that are under the surface of a piece of property. Usually, the owner of the surface estate owns the mineral rights under the property. However, under Texas law, those rights can be sold or leased to another party.

More info

Dallas, Texas 75230. The General Mineral Deed in Texas transfers ALL oil, gas, and mineral rights from the grantor to the grantee.Occasionally mineral or royalty deeds are made for a limited term, typically, like the usual form of oil and gas lease, for a stated term and so long thereafter. BETSY RUMELY. Attorney-at-Law. Under Texas law, if the mineral rights are separate property, then the bonus payments and royalty payments are separate property. See what kind of reputation the oil company has in the areas it drilled. 160 acre of land, more or less, being the same land described in that certain Warranty Deed dated August 9, 1935 from W.G. Gray and his wife, Mrs. Texas land is rich with resources such as oil, natural gas, and various other minerals. Oil companies must comply with statute - "Petroleum" defined. Advocate Oil and Gas specializes in the purchase of oil and gas mineral interests and royalty interests.

For more details on the Oil Co. and its activities see the Oil and Gas section of the Website. I also recommend reading the articles in the January 18, 1971, American Mineralogist —“Oil‥ and the January 27, 1971, Texas Geologist (Dallas) —“Oil‥ and January 28 & 29, 1971 by Mr. Fred F. Brown and Mrs. M. E. Brown (Texans and Oil) published by the Texas Geoscientist Association —“Texas‥ &‮’Rates‮‬‮‬‮‮‬‮‬‮‬‮‬‮‭. For those of you who might be interested in drilling for oil, you can call the office at or stop by. This office can assist any company (whether for sale, lease, or royalty interests) in preparing an oil and gas lease for drilling. I will discuss the basic structure of the company and how to get it all together (i.e., what you would need for an oil and gas lease×. This was in response to one of Mr. Fred Brown's clients asking if I could help him find a land agent. I hope my information is helpful to you on both fronts.

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Dallas Texas Oil, Gas and Mineral Deed from an Individual to a Corporation