Phoenix Arizona Gift Deed of Nonparticipating Royalty Interest with No Warranty

• Category: Oil Gas and Minerals - Deeds
• State: Multi-State
• City: Phoenix
• Control #: US-OG-042
• Format: Word; Rich Text

Description

This form provides for a conveyance of a nonparticipating royalty interest in specific lands. A Phoenix Arizona Gift Deed of Nonparticipating Royalty Interest with No Warranty is a legal document used to transfer ownership of a nonparticipating royalty interest in an oil or gas property located in the Phoenix, Arizona area. This deed serves as a gift, meaning that the transfer is made without any exchange of money or consideration. The nonparticipating royalty interest refers to a portion of the gross production from the underlying mineral rights. This interest entitles the holder to receive a share of the revenue generated from the production of oil or gas, but it does not grant any rights to participate in the exploration or development of the property. The purpose of this deed is to facilitate the gifting of a nonparticipating royalty interest to another party. It is typically used when an owner of mineral rights wishes to transfer their interest to a family member, friend, or charitable organization, for example. The Phoenix Arizona Gift Deed of Nonparticipating Royalty Interest with No Warranty includes clauses that specify the terms and conditions of the transfer. It outlines the legal description of the property, the percentage of the royalty interest being transferred, and any restrictions or rights associated with the interest. It is important to note that this type of gift deed does not provide any warranty or guarantee as to the validity or quality of the nonparticipating royalty interest. The granter (the person transferring the interest) does not make any representations or assurances about the value or future performance of the interest. Different types of Phoenix Arizona Gift Deed of Nonparticipating Royalty Interest with No Warranty may include variations in the percentage of the royalty interest being transferred, the specific property or well from which the interest is derived, and any additional terms or conditions agreed upon by the parties involved. In conclusion, a Phoenix Arizona Gift Deed of Nonparticipating Royalty Interest with No Warranty is a legal document that enables the transfer of a nonparticipating royalty interest in an oil or gas property located in Phoenix, Arizona. It allows the gift of a share of the revenue generated from production without any warranty or guarantee. Specific variations may exist based on the terms and conditions agreed upon between the parties involved.

A Phoenix Arizona Gift Deed of Nonparticipating Royalty Interest with No Warranty is a legal document used to transfer ownership of a nonparticipating royalty interest in an oil or gas property located in the Phoenix, Arizona area. This deed serves as a gift, meaning that the transfer is made without any exchange of money or consideration. The nonparticipating royalty interest refers to a portion of the gross production from the underlying mineral rights. This interest entitles the holder to receive a share of the revenue generated from the production of oil or gas, but it does not grant any rights to participate in the exploration or development of the property. The purpose of this deed is to facilitate the gifting of a nonparticipating royalty interest to another party. It is typically used when an owner of mineral rights wishes to transfer their interest to a family member, friend, or charitable organization, for example. The Phoenix Arizona Gift Deed of Nonparticipating Royalty Interest with No Warranty includes clauses that specify the terms and conditions of the transfer. It outlines the legal description of the property, the percentage of the royalty interest being transferred, and any restrictions or rights associated with the interest. It is important to note that this type of gift deed does not provide any warranty or guarantee as to the validity or quality of the nonparticipating royalty interest. The granter (the person transferring the interest) does not make any representations or assurances about the value or future performance of the interest. Different types of Phoenix Arizona Gift Deed of Nonparticipating Royalty Interest with No Warranty may include variations in the percentage of the royalty interest being transferred, the specific property or well from which the interest is derived, and any additional terms or conditions agreed upon by the parties involved. In conclusion, a Phoenix Arizona Gift Deed of Nonparticipating Royalty Interest with No Warranty is a legal document that enables the transfer of a nonparticipating royalty interest in an oil or gas property located in Phoenix, Arizona. It allows the gift of a share of the revenue generated from production without any warranty or guarantee. Specific variations may exist based on the terms and conditions agreed upon between the parties involved.