This deed grants, bargains, sells, conveys, and transfers to Grantee an undivided ten percent interest in and to all of Grantor's right, title, and interest in the oil, gas, and other minerals in, on, and under that may be produced from the agreed upon land.
Tarrant Texas Mineral Deed refers to a legal document that transfers ownership or rights to minerals located beneath the surface of a property in Tarrant County, Texas. This deed is often used in real estate transactions to separate the ownership of surface rights from mineral rights, with the latter being conveyed through a specific mineral deed. A Tarrant Texas Mineral Deed grants the grantee the exclusive rights to explore, develop, extract, and profit from the minerals found within the property. These minerals can include oil, gas, coal, limestone, sand, and other valuable substances. By owning the mineral rights, individuals or entities can potentially benefit from any future mineral exploration or extraction activities carried out on the property. One of the key aspects of a Tarrant Texas Mineral Deed is the severance of mineral rights from surface rights. This means that while the surface rights may belong to one owner, the mineral rights can be conveyed separately, allowing for independent ownership and the potential for separate leasing or selling. There are different types of Tarrant Texas Mineral Deeds, each tailored to specific circumstances or objectives. Some variations include: 1. Mineral Deed: This is the basic form of the deed, transferring ownership of the mineral rights from the granter (current owner) to the grantee (new owner). 2. Royalty Deed: This type of deed transfers a portion or percentage of the proceeds or royalties obtained from mineral extraction, rather than transferring full ownership of the mineral rights. 3. Non-Participating Royalty Interest (NPR) Deed: NPR deeds grant the right to receive royalties but do not allow the owner to participate in the exploration or extraction process. The granter retains all other rights, including surface rights. 4. Override Deed: An override deed grants the grantee a percentage of the royalties, often as an incentive for facilitating or assisting in mineral development activities. 5. Lease Deed: While not a mineral deed per se, a lease deed is used to grant the exclusive right to explore, extract, and profit from the minerals for a specific period, subject to specified terms and conditions. It is important to consult with a qualified attorney or landsman when dealing with Tarrant Texas Mineral Deeds to ensure the correct type of deed is utilized and that the rights and obligations of all parties are properly addressed.
