A Kings New York Mineral Deed with Granter Reserving Executive Rights in the Interest Conveyed — Transfer is a legal document used to transfer mineral rights in a property located in Kings County, New York. This type of deed contains specific provisions to protect the granter's executive rights while transferring the interest to another party. The granter reserves the executive rights to make decisions regarding the exploration, extraction, development, and leasing of minerals on the property. This means that although the mineral rights are conveyed, the granter still holds control over the executive decisions related to those rights. Some relevant keywords related to this type of deed include: Kings County, New York, mineral rights, deed, granter, executive rights, interest conveyed, transfer. Different types of Kings New York Mineral Deed with Granter Reserving Executive Rights in the Interest Conveyed — Transfer may include variations in language, specific provisions, or additional clauses depending on the unique circumstances of the transaction. It is essential to consult with a qualified attorney or real estate professional knowledgeable in New York property law to ensure that the specific requirements and desired outcomes are met when preparing and executing such a deed.
Kings New York Mineral Deed with Grantor Reserving Executive Rights in the Interest Conveyed - Transfer
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FAQ
executive mineral interest means the owner of the mineral interest has ceded their right to lease the interest. The nonexecutive mineral owner still reserves the right to receive their share of any bonus or royalty paid in relation to the involved mineral interest lease as granted by the holder.
A mineral owner's rights typically include the right to use the surface of the land to access and mine the minerals owned. This might mean the mineral owner has the right to drill an oil or natural gas well, or excavate a mine on your property.
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.
An undivided interest grants two or more people a fraction of ownership in each part of a general asset group, or fractional ownership of a piece of property.
That which is held by the same title by two or more persons, whether their rights are equal, as to value or quantity, or unequal.
In the oil & gas industry, an NEMI is a mineral interest the owner of which does not have the right to execute an oil and gas lease. As with a non-participating royalty interest (NPRI), a NEMI owner must consent for its interest to be pooled with other oil and gas interests.
A mineral interest owner also possesses the right to receive lease bonuses, delay rental payments, shut-in payments and royalties. A royalty interest, on the other hand, is the property interest created that entitles the owner to receive a share of the production.
Royalty Interest an ownership in production that bears no cost in production. Royalty interest owners receive their share of production revenue before the working interest owners. Working Interest an ownership in a well that bears 100% of the cost of production.
A conveyance is simply the legal process of transferring certain property or interests from one person to another, or Grantor to Grantee. During the conveyance of the property, oftentimes the person transferring the property, the Grantor, will reserve certain rights attached to the property being conveyed.
Primary tabs. An undivided interest means that two or more persons have an interest in a property held under the same title. The undivided interest encompasses the whole property, and its holders have equal rights to the entire property.
