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.
A mineral deed is a legal document used to transfer ownership of mineral rights in Wichita Falls, Texas, from one party to another. It is an essential document for anyone looking to buy or sell mineral rights and encompasses various types depending on the specific terms and conditions. Let's explore the different types of Wichita Falls Texas Mineral Deeds: 1. General Mineral Deed: This type of mineral deed transfers the entire ownership of the minerals beneath a property in Wichita Falls, Texas. It includes all current and future mineral rights, such as oil, gas, coal, and other valuable resources. 2. Specific Mineral Deed: A specific mineral deed focuses on transferring rights to a specific type of mineral beneath a property in Wichita Falls, Texas. For example, it may transfer only the rights to oil and gas while excluding other minerals like coal. 3. Royalty Deed: A royalty deed involves transferring a fraction or percentage of the proceeds generated from the extraction and sale of minerals in Wichita Falls, Texas, rather than transferring actual ownership of the minerals. The owner becomes entitled to receive a portion of the revenue generated from the mineral rights. 4. Non-Participating Royalty Deed: In this type of deed, the owner retains ownership of the mineral rights but conveys a portion of the royalties that would be received from any mining or drilling operations taking place on the property in Wichita Falls, Texas. 5. Mineral Lease Deed: A mineral lease deed grants the lessee the right to explore and extract minerals from the property in Wichita Falls, Texas, for a specified period. It outlines the terms, conditions, and royalties that the lessor will receive in exchange for allowing the lessee to exploit the mineral resources. 6. Surface Use Agreement: Although not a mineral deed, a surface use agreement is often associated with mineral rights and focuses on regulating the use of the property's surface during mineral extraction operations. It typically addresses issues such as access, surface damage compensation, and environmental considerations. When dealing with any type of Wichita Falls Texas Mineral Deed, it is crucial to consult an attorney who specializes in mineral rights to ensure proper understanding of the terms, rights, and obligations associated with the transaction.
