A Nassau New York Mineral Deed with Granter Reserving Nonparticipating Royalty Interest is a legal document that transfers ownership rights of mineral rights in Nassau County, New York, from the granter (current owner) to the grantee (new owner), while allowing the granter to retain a nonparticipating royalty interest in any future mineral or resource extraction. This type of mineral deed is commonly used in situations where a landowner wants to sell or transfer the rights to the minerals beneath their property but still wishes to receive a royalty payment without actively participating in the extraction process. By reserving a nonparticipating royalty interest, the granter can continue to benefit financially from any minerals extracted on the property even after the transfer of ownership. The Nassau New York Mineral Deed with Granter Reserving Nonparticipating Royalty Interest is a legally binding agreement that includes specific details such as the names of the granter and grantee, a legal description of the property, the type of minerals or resources being transferred, and the terms and conditions of the nonparticipating royalty interest. Some relevant keywords related to this topic include: — MineraDeeee— - Nassau New York - Nonparticipating royalty interest — Mineral right— - Property ownership - Resource extraction Granteror - Grantee - Legal description — Financial benefit — Transfer of ownership It's important to note that there may be variations or subtypes of the Nassau New York Mineral Deed with Granter Reserving Nonparticipating Royalty Interest, which could include different terms, conditions, or additional clauses. These may be specific to the state of New York or individual circumstances, such as variations in royalty percentage or duration of the nonparticipating royalty interest. It is always recommended consulting with a legal professional familiar with local laws and regulations to understand the specific details and variations of this type of mineral deed in Nassau, New York.
Nassau New York Mineral Deed with Grantor Reserving Nonparticipating Royalty Interest
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