Salt Lake Utah Term Royalty Deed that Terminates Upon Expiration of Lease

• Category: Oil Gas and Minerals - Deeds
• State: Multi-State
• County: Salt Lake
• 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. A Salt Lake Utah Term Royalty Deed that Terminates Upon Expiration of Lease is a legal document used in real estate transactions pertaining to the extraction and ownership of minerals, typically oil and gas, in the state of Utah. This type of deed outlines the rights and responsibilities of the parties involved, specifically the landowner (lessor) and the company or individual acquiring the mineral rights (lessee). The term "Salt Lake Utah" refers to the specific geographical location where this deed is applicable, i.e., Salt Lake City and its surrounding areas in the state of Utah. By using this term, it ensures that the content is specific to the Salt Lake Utah region and not applicable to other locations. Keywords: 1. Salt Lake Utah: Refers to the specific geographic area where the deed is applicable. 2. Term Royalty Deed: Describes the type of deed being discussed, indicating that it is a contractual agreement related to mineral rights. 3. Terminates Upon Expiration of Lease: Highlights the key characteristic of this type of deed, specifying that the royalty rights cease to exist after the lease agreement expires. 4. Real Estate Transactions: Indicates that the content is relevant to the buying, selling, or leasing of property or land. 5. Minerals: Denotes the focus of the deed, emphasizing that it concerns the extraction and ownership of mineral resources. 6. Oil and Gas: Specifies the types of minerals commonly associated with term royalty deeds in the Salt Lake Utah region. 7. Landowner: Refers to the party who owns the land and is granting the mineral rights. 8. Lessee: Refers to the party, often a company or individual, who is acquiring the mineral rights and is responsible for their extraction. 9. Rights and Responsibilities: Indicates that the deed outlines the privileges and duties of each party involved in the transaction. 10. Lessor: Another term for the landowner, often used interchangeably. 11. Specific Geographical Location: Suggests that the content is tailored specifically to the Salt Lake Utah region, excluding other areas. Different types of Salt Lake Utah Term Royalty Deeds that Terminates Upon Expiration of Lease could include variations such as fixed-term royalty deeds, renewable term royalty deeds, and convertible term royalty deeds. These types may have slight differences in their terms, duration, or conditions, but all share the key characteristic of terminating upon the expiration or completion of the lease agreement.

A Salt Lake Utah Term Royalty Deed that Terminates Upon Expiration of Lease is a legal document used in real estate transactions pertaining to the extraction and ownership of minerals, typically oil and gas, in the state of Utah. This type of deed outlines the rights and responsibilities of the parties involved, specifically the landowner (lessor) and the company or individual acquiring the mineral rights (lessee). The term "Salt Lake Utah" refers to the specific geographical location where this deed is applicable, i.e., Salt Lake City and its surrounding areas in the state of Utah. By using this term, it ensures that the content is specific to the Salt Lake Utah region and not applicable to other locations. Keywords: 1. Salt Lake Utah: Refers to the specific geographic area where the deed is applicable. 2. Term Royalty Deed: Describes the type of deed being discussed, indicating that it is a contractual agreement related to mineral rights. 3. Terminates Upon Expiration of Lease: Highlights the key characteristic of this type of deed, specifying that the royalty rights cease to exist after the lease agreement expires. 4. Real Estate Transactions: Indicates that the content is relevant to the buying, selling, or leasing of property or land. 5. Minerals: Denotes the focus of the deed, emphasizing that it concerns the extraction and ownership of mineral resources. 6. Oil and Gas: Specifies the types of minerals commonly associated with term royalty deeds in the Salt Lake Utah region. 7. Landowner: Refers to the party who owns the land and is granting the mineral rights. 8. Lessee: Refers to the party, often a company or individual, who is acquiring the mineral rights and is responsible for their extraction. 9. Rights and Responsibilities: Indicates that the deed outlines the privileges and duties of each party involved in the transaction. 10. Lessor: Another term for the landowner, often used interchangeably. 11. Specific Geographical Location: Suggests that the content is tailored specifically to the Salt Lake Utah region, excluding other areas. Different types of Salt Lake Utah Term Royalty Deeds that Terminates Upon Expiration of Lease could include variations such as fixed-term royalty deeds, renewable term royalty deeds, and convertible term royalty deeds. These types may have slight differences in their terms, duration, or conditions, but all share the key characteristic of terminating upon the expiration or completion of the lease agreement.