King Washington Correction to Mineral Deed As to Interest Conveyed

State:
Multi-State
County:
King
Control #:
US-OG-314
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Word; 
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Description

This form is used to when it has been discovered that through a drafting error the (Fraction or Percentage ) interest in the mineral estate conveyed in a Deed was stated incorrectly. It is the purpose of this instrument and the intention of Grantor and Grantee to correct this error, and to accurately state the actual mineral interest intended to be conveyed by the Deed.


King Washington Correction to Mineral Deed As to Interest Conveyed is a legal document that is used to rectify or modify specific details related to the transfer of mineral interest in a property. This correction ensures accuracy and clarity in the recorded information, eliminating any discrepancies or errors that may have occurred during the initial deed filing. A correction to a mineral deed may be necessary due to various reasons, such as errors in the identification of parties involved, incorrect descriptions of the property, inaccuracies in the conveyed interests, or mistakes in the calculations of mineral acreage. These corrections serve to update and align the recorded information with the true intentions and agreements made by the parties involved. The types of King Washington Correction to Mineral Deed As to Interest Conveyed may vary depending on the specific amendments needed. Some common types of corrections may include: 1. Correction of Granter/Grantee Information: This type of correction addresses any errors in the identification of the party conveying the mineral interest (granter) or the party receiving the interest (grantee). It ensures that the correct individuals or entities are properly identified for legal and record keeping purposes. 2. Correction of Property Description: In case of an incorrect or inaccurate property description in the initial mineral deed, a correction may be required to provide accurate information about the location, boundaries, and legal description of the property involved. 3. Correction of Mineral Interest Conveyed: This type of correction aims to rectify any mistakes or oversights in the conveyed mineral interest, whether it be a specific percentage, fraction, or specific minerals. This ensures that the interest conveyed is accurately reflected and recorded in the deed. 4. Correction of Calculation Errors: Sometimes, discrepancies in the calculation of the mineral acreage occur due to errors in surveys or mathematical mistakes. This type of correction serves to rectify such inaccuracies and provides the correct acreage or interest information. It is important to approach a qualified legal professional or a title company to draft and execute the King Washington Correction to Mineral Deed As to Interest Conveyed, ensuring compliance with state laws and regulations.

King Washington Correction to Mineral Deed As to Interest Conveyed is a legal document that is used to rectify or modify specific details related to the transfer of mineral interest in a property. This correction ensures accuracy and clarity in the recorded information, eliminating any discrepancies or errors that may have occurred during the initial deed filing. A correction to a mineral deed may be necessary due to various reasons, such as errors in the identification of parties involved, incorrect descriptions of the property, inaccuracies in the conveyed interests, or mistakes in the calculations of mineral acreage. These corrections serve to update and align the recorded information with the true intentions and agreements made by the parties involved. The types of King Washington Correction to Mineral Deed As to Interest Conveyed may vary depending on the specific amendments needed. Some common types of corrections may include: 1. Correction of Granter/Grantee Information: This type of correction addresses any errors in the identification of the party conveying the mineral interest (granter) or the party receiving the interest (grantee). It ensures that the correct individuals or entities are properly identified for legal and record keeping purposes. 2. Correction of Property Description: In case of an incorrect or inaccurate property description in the initial mineral deed, a correction may be required to provide accurate information about the location, boundaries, and legal description of the property involved. 3. Correction of Mineral Interest Conveyed: This type of correction aims to rectify any mistakes or oversights in the conveyed mineral interest, whether it be a specific percentage, fraction, or specific minerals. This ensures that the interest conveyed is accurately reflected and recorded in the deed. 4. Correction of Calculation Errors: Sometimes, discrepancies in the calculation of the mineral acreage occur due to errors in surveys or mathematical mistakes. This type of correction serves to rectify such inaccuracies and provides the correct acreage or interest information. It is important to approach a qualified legal professional or a title company to draft and execute the King Washington Correction to Mineral Deed As to Interest Conveyed, ensuring compliance with state laws and regulations.

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FAQ

A royalty interest is an interest retained in the output of a property when the owner of mineral rights enters into a lease agreement. A royalty interest entitles the mineral rights owner to receive a portion of the minerals produced or a portion of the gross revenue from sold production.

As a mineral rights value rule of thumb, the 3X cash flow method is often used. To calculate mineral rights value, multiply the 12-month trailing cash flow by 3. For a property with royalty rights, a 5X multiple provides a more accurate valuation (stout.com).

Mineral rights are automatically included as a part of the land in a property conveyance, unless and until the ownership gets separated at some point by an owner/seller. An owner can separate the mineral rights from land by: Conveying (selling or otherwise transferring) the land but retaining the mineral rights.

The Duhig rule essentially states that, if both a grant and a reservation in a warranty deed cannot be given effect, then the reservation fails.

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.

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.

It may appear from the use of the word royalty that X intends to convey to Y a royalty interestan interest in the share of production. However, the phrase in and under is typically utilized in conjunction with the conveyance or reservation of a mineral interest.

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.

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.

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.

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King Washington Correction to Mineral Deed As to Interest Conveyed