Bronx New York Oil, Gas and Mineral Deed - Individual to Two Individuals

Name: Bronx New York Oil, Gas and Mineral Deed - Individual to Two Individuals
Brand: US Legal Forms
Rating: 4.73 (477 reviews)

Category:

Oil Gas and Minerals - Deeds

State:

Multi-State

County:

Bronx

Control #:

US-00576-A

Format:

Instant download

Description

Grantor conveys, with limited warranty, unto the grantees all of grantor's mineral interest, including but not limited to oil, gas, carbon dioxide, and all other minerals in, on and under certain property described in the document.

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FAQ

Primary tabs. An undivided interest means that two or more persons have an interest in a property held under the same title. The undivided interest encompasses the whole property, and its holders have equal rights to the entire property.

Transfer Your Mineral RightsTransfer 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 can be divided by specific mineral commodities. For example, one company can own the mineral rights to coal, while another company owns the oil and gas rights. Consequently, it is important to know which minerals are included in a mineral deed. Some deeds specify that all minerals are included.

When the surface and subsurface (mineral) estates are owned by different parties, they are referred to as split estate or severed estate lands. When you buy a piece of land or even if the land has been in your family for generations it is not always evident whether or not you own the minerals.

An undivided interest refers to a situation in which more than one party simultaneously holds a right to each right, benefit and obligation under an agreement. An undivided interest can refer to different arrangements in different areas.

Mineral rights in Texas are the rights to mineral deposits that exist under the surface of a parcel of property. This right normally belongs to the owner of the surface estate; however, in Texas those rights can be transferred through sale or lease to a second party.

Having an undivided interest means that no one owner has a specific piece of the land, but rather a share (or interest) in the entire property. So for example, if two people equally own 160 acres as Tenants in Common, each would have a 50% undivided interest in the entire 160 acres.

An undivided interest is an ownership that is co-owners have an equal right to enjoy the entire property. The property is not divided into identifiable sections. When someone owns less than 100% of the interest, they are said to own an undivided interest.

Undivided co-ownership of a property begins informally when several people, the undivided co-owners, acquire ownership of the same property. However, it is in their best interest, especially in the case of real estate, to establish a written agreement between them.

Mineral rights deeds are not the same as royalty deeds. Royalty deeds do not allow for surface access, or for the initiation of the extraction and sale of minerals. A royalty owner will only benefit economically if the mineral owner decides to produce and sell the minerals.

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Wyoming has a long history of oil and gas extraction and production. PEOPLE of the State of New York, Defendant. Jan.Title VI—Oil Region National Heritage Area Act.

Bronx New York Oil, Gas and Mineral Deed - Individual to Two Individuals

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