Wake North Carolina Term Mineral Deed of Undivided Interest

• Category: Oil Gas and Minerals - Deeds
• State: Multi-State
• County: Wake
• 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 Wake North Carolina Term Mineral Deed of Undivided Interest is a legal document used to transfer ownership rights and interests in minerals, such as oil, gas, and mineral deposits, from one party to another in Wake County, North Carolina. This term mineral deed establishes the ownership and establishes the rights and obligations of the parties involved. The term mineral deed of undivided interest grants a specific portion or percentage of ownership in the minerals rather than an entire interest. This means that multiple owners can hold rights and interests in the same set of minerals. Undivided interests allow each owner to explore and develop the minerals independently, without the need for unanimous agreement from the other owners. There can be various types of Wake North Carolina Term Mineral Deed of Undivided Interest, based on the specific terms and conditions agreed upon by the parties involved. Some common types include: 1. Fractional Mineral Deed: This type of deed grants the ownership of a specified fraction or percentage of the minerals to the grantee. For example, a fractional mineral deed might transfer 50% ownership of the minerals to the grantee. 2. Non-Fractional Mineral Deed: In contrast to a fractional mineral deed, a non-fractional mineral deed grants a specific, non-fractional amount of ownership interest. For example, a non-fractional mineral deed might transfer a fixed number of acres or a specific quantity of minerals to the grantee. 3. Temporary Term Mineral Deed: This type of deed establishes a specific term or duration for the ownership rights of the minerals. The grantee holds the rights and interests in a predetermined period, after which they may revert to the original owner. 4. Perpetual Term Mineral Deed: Unlike a temporary term mineral deed, a perpetual term mineral deed grants the ownership rights and interests in the minerals indefinitely, with no predetermined expiration date. It's important to consult with legal professionals or experts in real estate and mineral rights when drafting or executing a Wake North Carolina Term Mineral Deed of Undivided Interest. The specific terms and conditions of the deed can vary based on the unique circumstances and objectives of the parties involved.

A Wake North Carolina Term Mineral Deed of Undivided Interest is a legal document used to transfer ownership rights and interests in minerals, such as oil, gas, and mineral deposits, from one party to another in Wake County, North Carolina. This term mineral deed establishes the ownership and establishes the rights and obligations of the parties involved. The term mineral deed of undivided interest grants a specific portion or percentage of ownership in the minerals rather than an entire interest. This means that multiple owners can hold rights and interests in the same set of minerals. Undivided interests allow each owner to explore and develop the minerals independently, without the need for unanimous agreement from the other owners. There can be various types of Wake North Carolina Term Mineral Deed of Undivided Interest, based on the specific terms and conditions agreed upon by the parties involved. Some common types include: 1. Fractional Mineral Deed: This type of deed grants the ownership of a specified fraction or percentage of the minerals to the grantee. For example, a fractional mineral deed might transfer 50% ownership of the minerals to the grantee. 2. Non-Fractional Mineral Deed: In contrast to a fractional mineral deed, a non-fractional mineral deed grants a specific, non-fractional amount of ownership interest. For example, a non-fractional mineral deed might transfer a fixed number of acres or a specific quantity of minerals to the grantee. 3. Temporary Term Mineral Deed: This type of deed establishes a specific term or duration for the ownership rights of the minerals. The grantee holds the rights and interests in a predetermined period, after which they may revert to the original owner. 4. Perpetual Term Mineral Deed: Unlike a temporary term mineral deed, a perpetual term mineral deed grants the ownership rights and interests in the minerals indefinitely, with no predetermined expiration date. It's important to consult with legal professionals or experts in real estate and mineral rights when drafting or executing a Wake North Carolina Term Mineral Deed of Undivided Interest. The specific terms and conditions of the deed can vary based on the unique circumstances and objectives of the parties involved.