Travis Texas Term Mineral Deed of Undivided Interest

• Category: Oil Gas and Minerals - Deeds
• State: Multi-State
• County: Travis
• 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 Travis Texas Term Mineral Deed of Undivided Interest is a legal document that grants ownership rights to a specific percentage of minerals present on a property. This type of deed is commonly used in the state of Texas, specifically in Travis County, to establish ownership and manage the extraction and utilization of mineral resources. A term mineral deed refers to a deed that grants ownership for a specific period, rather than indefinitely. This means that the owner of the mineral rights holds them for a predetermined term, after which the rights may revert to the original owner or be transferred to another party. The term "undivided interest" implies that the ownership rights granted by the deed apply to a specific percentage of the minerals present on the property as a whole. This means that multiple parties may hold undivided interests in the same property, with each owning a distinct percentage. These interests are typically represented as fractions or percentages, denoting the share of minerals that each party possesses. There are various types of Travis Texas Term Mineral Deeds of Undivided Interest that can be customized to meet the specific needs and preferences of the involved parties. Some common types include: 1. Fixed Term Mineral Deed of Undivided Interest: This type of deed grants ownership rights to the specified percentage of minerals for a fixed period, such as 10 years or 20 years, after which the rights expire. 2. Renewable Term Mineral Deed of Undivided Interest: With this type of deed, the ownership rights can be renewed or extended once the initial term expires. Parties have the option to renegotiate the terms and continue holding their undivided interest for additional periods. 3. Royalty Interest Mineral Deed of Undivided Interest: Unlike traditional mineral deeds, a royalty interest deed does not grant ownership of minerals directly. Instead, it provides the owner with a percentage of royalties or profits generated from the extraction and sale of minerals on the property. 4. Non-Participating Term Mineral Deed of Undivided Interest: This type of deed grants the owner the right to receive royalty payments or their share of profits but does not allow them to participate in the decision-making process or have a say in the property's operations. In conclusion, a Travis Texas Term Mineral Deed of Undivided Interest is a legal document that bestows ownership rights to a specific portion of minerals on a property for a predetermined term. The different types of mineral deeds available cater to various requirements, such as fixed or renewable terms, royalty interests, or non-participating rights.

A Travis Texas Term Mineral Deed of Undivided Interest is a legal document that grants ownership rights to a specific percentage of minerals present on a property. This type of deed is commonly used in the state of Texas, specifically in Travis County, to establish ownership and manage the extraction and utilization of mineral resources. A term mineral deed refers to a deed that grants ownership for a specific period, rather than indefinitely. This means that the owner of the mineral rights holds them for a predetermined term, after which the rights may revert to the original owner or be transferred to another party. The term "undivided interest" implies that the ownership rights granted by the deed apply to a specific percentage of the minerals present on the property as a whole. This means that multiple parties may hold undivided interests in the same property, with each owning a distinct percentage. These interests are typically represented as fractions or percentages, denoting the share of minerals that each party possesses. There are various types of Travis Texas Term Mineral Deeds of Undivided Interest that can be customized to meet the specific needs and preferences of the involved parties. Some common types include: 1. Fixed Term Mineral Deed of Undivided Interest: This type of deed grants ownership rights to the specified percentage of minerals for a fixed period, such as 10 years or 20 years, after which the rights expire. 2. Renewable Term Mineral Deed of Undivided Interest: With this type of deed, the ownership rights can be renewed or extended once the initial term expires. Parties have the option to renegotiate the terms and continue holding their undivided interest for additional periods. 3. Royalty Interest Mineral Deed of Undivided Interest: Unlike traditional mineral deeds, a royalty interest deed does not grant ownership of minerals directly. Instead, it provides the owner with a percentage of royalties or profits generated from the extraction and sale of minerals on the property. 4. Non-Participating Term Mineral Deed of Undivided Interest: This type of deed grants the owner the right to receive royalty payments or their share of profits but does not allow them to participate in the decision-making process or have a say in the property's operations. In conclusion, a Travis Texas Term Mineral Deed of Undivided Interest is a legal document that bestows ownership rights to a specific portion of minerals on a property for a predetermined term. The different types of mineral deeds available cater to various requirements, such as fixed or renewable terms, royalty interests, or non-participating rights.