Bexar Texas Term Royalty Deed that Terminates Upon Expiration of Lease

• Category: Oil Gas and Minerals - Deeds
• State: Multi-State
• County: Bexar
• Control #: US-OG-046
• Format: Word; Rich Text

Description

This form provides for a conveyance of royalty for a limited period of time. The interest conveyed terminates and reverts to the Grantor when the identified oil and gas lease terminates. Bexar Texas Term Royalty Deed that Terminates Upon Expiration of Lease is a legal document that outlines the rights and obligations between a landowner and an oil and gas company operating in Bexar County, Texas. This specific type of deed is designed to grant the oil and gas company certain royalty interests on the property for a fixed term, which automatically terminates upon the expiration of the lease agreement. The Bexar Texas Term Royalty Deed serves as a contractual agreement between the landowner, often referred to as the granter, and the oil and gas company, known as the grantee. It establishes the grantee's right to explore, drill, produce, and extract oil and gas resources from the specified land in Bexar County during the lease term. Keywords: Bexar Texas, Term Royalty Deed, Terminates, Expiration of Lease, legal document, rights, obligations, landowner, oil and gas company, Bexar County, fixed term, contractual agreement, granter, grantee, explore, drill, produce, extract, resources. There may be different types of Bexar Texas Term Royalty Deeds that Terminates Upon Expiration of Lease, including: 1. Standard Term Royalty Deed: This is the most common type of deed where the landowner grants the oil and gas company exclusive rights to exploit the property for a specific period. The royalty interests automatically terminate upon the expiration of the lease. 2. Limited Term Royalty Deed: In this variation, the landowner grants the oil and gas company limited or specified rights to extract oil and gas resources for a fixed term. The deed terminates upon the expiration of the lease agreement. 3. Non-Operative Term Royalty Deed: This type of deed is used when the landowner wants to grant royalty interests, but the oil and gas company is not actively extracting resources from the property. The deed remains in effect until the lease agreement expires, even if no operations occur during its term. 4. Conditional Term Royalty Deed: In certain cases, a landowner may require specific conditions to be met before granting royalty interests. The deed only becomes effective upon satisfying these conditions and terminates upon the expiration of the lease. 5. Secondary Term Royalty Deed: This type of deed is often employed when a landowner wants to grant secondary or backup rights to an oil and gas company. It becomes effective if the primary lease agreement fails or terminates prematurely, providing the grantee with an alternative lease option. It is essential for both the landowner and oil and gas company to consult legal experts to draft and review the Bexar Texas Term Royalty Deed to ensure all rights, obligations, and lease termination provisions are accurately specified.

Bexar Texas Term Royalty Deed that Terminates Upon Expiration of Lease is a legal document that outlines the rights and obligations between a landowner and an oil and gas company operating in Bexar County, Texas. This specific type of deed is designed to grant the oil and gas company certain royalty interests on the property for a fixed term, which automatically terminates upon the expiration of the lease agreement. The Bexar Texas Term Royalty Deed serves as a contractual agreement between the landowner, often referred to as the granter, and the oil and gas company, known as the grantee. It establishes the grantee's right to explore, drill, produce, and extract oil and gas resources from the specified land in Bexar County during the lease term. Keywords: Bexar Texas, Term Royalty Deed, Terminates, Expiration of Lease, legal document, rights, obligations, landowner, oil and gas company, Bexar County, fixed term, contractual agreement, granter, grantee, explore, drill, produce, extract, resources. There may be different types of Bexar Texas Term Royalty Deeds that Terminates Upon Expiration of Lease, including: 1. Standard Term Royalty Deed: This is the most common type of deed where the landowner grants the oil and gas company exclusive rights to exploit the property for a specific period. The royalty interests automatically terminate upon the expiration of the lease. 2. Limited Term Royalty Deed: In this variation, the landowner grants the oil and gas company limited or specified rights to extract oil and gas resources for a fixed term. The deed terminates upon the expiration of the lease agreement. 3. Non-Operative Term Royalty Deed: This type of deed is used when the landowner wants to grant royalty interests, but the oil and gas company is not actively extracting resources from the property. The deed remains in effect until the lease agreement expires, even if no operations occur during its term. 4. Conditional Term Royalty Deed: In certain cases, a landowner may require specific conditions to be met before granting royalty interests. The deed only becomes effective upon satisfying these conditions and terminates upon the expiration of the lease. 5. Secondary Term Royalty Deed: This type of deed is often employed when a landowner wants to grant secondary or backup rights to an oil and gas company. It becomes effective if the primary lease agreement fails or terminates prematurely, providing the grantee with an alternative lease option. It is essential for both the landowner and oil and gas company to consult legal experts to draft and review the Bexar Texas Term Royalty Deed to ensure all rights, obligations, and lease termination provisions are accurately specified.