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

Name: Suffolk 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:

Suffolk

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

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.

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.

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.

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.

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.

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.

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).

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.

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Rules of deed and contract construction that fill multi- volume treatises. 2 burner oil; (4) fuel oil no.PEOPLE of the State of New York, Defendant. Jan. Send us an email or fill out the contact form and we'll get back to you ASAP.

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

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FAQ

What is a split mineral?

How much are mineral rights worth in Texas?

How can mineral rights be transferred?

What does an undivided interest mean in oil and gas?

How do I transfer mineral rights in Texas?

What is the difference between a mineral deed and a royalty deed?

What happens to mineral rights when someone dies in Texas?

How do you transfer mineral rights after death in Texas?

How do you split mineral rights?

How do I transfer ownership of mineral rights in Texas?

Interesting Questions

What is an oil, gas and mineral deed?

Who are the parties involved in the Suffolk Oil, Gas and Mineral Deed - Individual to Two Individuals816456?

What does this deed cover?

Can the rights be transferred multiple times?

Why would someone want to transfer their oil, gas and mineral rights?

Is there any compensation involved in this deed?

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