Lima Arizona Oil, Gas and Mineral Deed is a legal document that facilitates the transfer of ownership rights of oil, gas, and mineral rights from an individual to two other individuals. This deed is specifically designed to address the unique characteristics and regulations of the Pima County in Arizona. Keywords: Lima Arizona, Oil, Gas, Mineral Deed, Individual, Two Individuals, Ownership Rights, Transfer, Pima County, Arizona. There are no different types of Lima Arizona Oil, Gas and Mineral Deed — Individual to Two Individuals.
Pima Arizona Oil, Gas and Mineral Deed - Individual to Two Individuals
Category:
State:
Multi-State
County:
Pima
Control #:
US-00576-A
Format:
Word;
Rich Text
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
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.
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.
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.
Call the county where the minerals are located and ask how to transfer mineral ownership after death. They will probably advise you to submit a copy of the death certificate, probate documents (if any), and a copy of the will (or affidavit of heirship if there is no will).
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.
As a general rule of thumb, the value for non-producing mineral rights will nearly always be less than $1,000/acre. In most cases, the mineral rights value in Texas for non-producing minerals will be $0 to $250, but producing minerals $25,000+ per acre is not unusual.
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.
To transfer mineral rights:The grantor's lawyer has to come up with a deed of transfer to the grantee.The grantee accepts the deed of transfer and goes on to register themselves as the new rightful owner at the office of the Colorado State land board.More items...
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.
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Many people use a lawyer or title company to help with this process. 2. Get Help From an Attorney.Why People Sell Their Mineral Rights. With the price of oil declining and operators practically giving gas away, I decided to sell before the bottom falls out. Leases of unallotted lands for oil and gas mining purposes. The Arizona Public Records Law, see Salt River Pima-Maricopa Indian Cmty. v. Groundwater Quality Protection Permit was issued is in compliance with Articles 1, 2, and 3 of this.