Collin Texas Term Royalty Deed that Terminates Upon Expiration of Lease

• Category: Oil Gas and Minerals - Deeds
• State: Multi-State
• County: Collin
• 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. Collin Texas Term Royalty Deed that Terminates Upon Expiration of Lease is a legal document commonly used in the oil and gas industry in Collin County, Texas. This type of deed grants a specific term of royalty interest to the deed holder, which automatically terminates upon the expiration of the lease agreement. The Collin Texas Term Royalty Deed offers various benefits to both the granter and the grantee. For the granter, it provides a way to monetize their mineral rights while maintaining ownership of the property. On the other hand, the grantee receives a portion of the revenue generated from the oil and gas production during the lease term. There are several types of Collin Texas Term Royalty Deed that Terminates Upon Expiration of Lease, each with its own specific conditions and terms. Some common variations include: 1. Fixed-Term Royalty Deed: This type of deed grants a specific term of royalty interest that remains in effect until the lease agreement expires. The grantee receives royalty payments during this term based on the production of oil and gas. 2. Percentage-Based Royalty Deed: This variation grants the grantee a percentage-based royalty interest in the oil and gas production. The percentage is typically specified in the deed and applies throughout the term of the lease. 3. Term and Production Royalty Deed: This type of deed combines a fixed term with a production-based royalty interest. The grantee receives royalty payments during the lease term, and if production continues beyond its expiration, the royalty interest is extended until the cessation of production. 4. Non-Operated Royalty Deed: Under this variation, the grantee has no operational responsibilities but only receives royalty payments during the term of the lease. The granter maintains control over the exploration and extraction processes. When entering into a Collin Texas Term Royalty Deed that Terminates Upon Expiration of Lease, it is crucial for both parties to carefully negotiate and outline the terms, including royalty rates, lease duration, and any special provisions or conditions. In conclusion, the Collin Texas Term Royalty Deed that Terminates Upon Expiration of Lease is a legally binding agreement that grants a specific term of royalty interest in the oil and gas industry. By understanding the different types and their specific conditions, both granters and grantees can make informed decisions to maximize their benefits and protect their interests.

Collin Texas Term Royalty Deed that Terminates Upon Expiration of Lease is a legal document commonly used in the oil and gas industry in Collin County, Texas. This type of deed grants a specific term of royalty interest to the deed holder, which automatically terminates upon the expiration of the lease agreement. The Collin Texas Term Royalty Deed offers various benefits to both the granter and the grantee. For the granter, it provides a way to monetize their mineral rights while maintaining ownership of the property. On the other hand, the grantee receives a portion of the revenue generated from the oil and gas production during the lease term. There are several types of Collin Texas Term Royalty Deed that Terminates Upon Expiration of Lease, each with its own specific conditions and terms. Some common variations include: 1. Fixed-Term Royalty Deed: This type of deed grants a specific term of royalty interest that remains in effect until the lease agreement expires. The grantee receives royalty payments during this term based on the production of oil and gas. 2. Percentage-Based Royalty Deed: This variation grants the grantee a percentage-based royalty interest in the oil and gas production. The percentage is typically specified in the deed and applies throughout the term of the lease. 3. Term and Production Royalty Deed: This type of deed combines a fixed term with a production-based royalty interest. The grantee receives royalty payments during the lease term, and if production continues beyond its expiration, the royalty interest is extended until the cessation of production. 4. Non-Operated Royalty Deed: Under this variation, the grantee has no operational responsibilities but only receives royalty payments during the term of the lease. The granter maintains control over the exploration and extraction processes. When entering into a Collin Texas Term Royalty Deed that Terminates Upon Expiration of Lease, it is crucial for both parties to carefully negotiate and outline the terms, including royalty rates, lease duration, and any special provisions or conditions. In conclusion, the Collin Texas Term Royalty Deed that Terminates Upon Expiration of Lease is a legally binding agreement that grants a specific term of royalty interest in the oil and gas industry. By understanding the different types and their specific conditions, both granters and grantees can make informed decisions to maximize their benefits and protect their interests.