Dallas Texas Term Mineral Deed of Undivided Interest

• Category: Oil Gas and Minerals - Deeds
• State: Multi-State
• County: Dallas
• Control #: US-OG-064
• Format: Word; Rich Text

Description

This deed form conveys a mineral interest for a specified term, to be designated by the grantor, after which time, the conveyed interest reverts to the grantor. A Dallas Texas Term Mineral Deed of Undivided Interest is a legal document that transfers ownership rights of mineral interests in a specific period of time in Dallas, Texas. This type of deed is commonly used in the oil and gas industry, where individuals or entities, known as granters, convey their undivided interest in minerals beneath a specific property to another party, known as the grantee, for a predetermined term. The Dallas Texas Term Mineral Deed of Undivided Interest establishes the rights and responsibilities of both the granter and grantee for the specified duration. It outlines the percentage of ownership interest being conveyed, the location of the property, and the term over which the grantee has the right to extract and profit from the minerals. This deed can apply to various types of minerals such as oil, gas, coal, gravel, or other valuable substances found beneath the surface. There are different types of Dallas Texas Term Mineral Deed of Undivided Interest that may be used depending on specific circumstances and agreements between the parties involved. Some common variations include: 1. Fixed-Term Mineral Deed: This type of deed grants the grantee the rights to the mineral interests in a specific fixed period, such as five years or ten years. 2. Yearly Mineral Deed: This deed grants the grantee the rights to the mineral interests in a renewable yearly term. It typically continues until one of the parties terminates the agreement. 3. Multi-Term Mineral Deed: Unlike the fixed or yearly mineral deed, the multi-term mineral deed allows for multiple terms with specific renewal options. It offers flexibility and allows the parties to negotiate different terms for each renewal period. 4. Partial Mineral Deed: In some cases, the granter may decide to convey only a portion of their undivided interest in the minerals rather than their entire interest. This variant is known as a partial mineral deed. When entering into a Dallas Texas Term Mineral Deed of Undivided Interest, it is crucial for both parties to consult legal professionals with expertise in mineral rights to ensure clarity and protection of interests. The document should include clear descriptions of the property, terms of the agreement, and any additional provisions or restrictions agreed upon by the parties involved.

A Dallas Texas Term Mineral Deed of Undivided Interest is a legal document that transfers ownership rights of mineral interests in a specific period of time in Dallas, Texas. This type of deed is commonly used in the oil and gas industry, where individuals or entities, known as granters, convey their undivided interest in minerals beneath a specific property to another party, known as the grantee, for a predetermined term. The Dallas Texas Term Mineral Deed of Undivided Interest establishes the rights and responsibilities of both the granter and grantee for the specified duration. It outlines the percentage of ownership interest being conveyed, the location of the property, and the term over which the grantee has the right to extract and profit from the minerals. This deed can apply to various types of minerals such as oil, gas, coal, gravel, or other valuable substances found beneath the surface. There are different types of Dallas Texas Term Mineral Deed of Undivided Interest that may be used depending on specific circumstances and agreements between the parties involved. Some common variations include: 1. Fixed-Term Mineral Deed: This type of deed grants the grantee the rights to the mineral interests in a specific fixed period, such as five years or ten years. 2. Yearly Mineral Deed: This deed grants the grantee the rights to the mineral interests in a renewable yearly term. It typically continues until one of the parties terminates the agreement. 3. Multi-Term Mineral Deed: Unlike the fixed or yearly mineral deed, the multi-term mineral deed allows for multiple terms with specific renewal options. It offers flexibility and allows the parties to negotiate different terms for each renewal period. 4. Partial Mineral Deed: In some cases, the granter may decide to convey only a portion of their undivided interest in the minerals rather than their entire interest. This variant is known as a partial mineral deed. When entering into a Dallas Texas Term Mineral Deed of Undivided Interest, it is crucial for both parties to consult legal professionals with expertise in mineral rights to ensure clarity and protection of interests. The document should include clear descriptions of the property, terms of the agreement, and any additional provisions or restrictions agreed upon by the parties involved.