Salt Lake Utah Warranty Deed for Surface and Mineral Interests
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How to fill out Warranty Deed For Surface And Mineral Interests?
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FAQ
Remember, the property and the mineral rights are two separate entities. You may have inherited the mineral rights, but you need to know who owns the property if you want to drill. The opposite scenario is to check who owns the mineral rights on the property you inherited.
Executor's Deed: This may be used when a person dies testate (with a will). The estate's executor will dispose of the decedent's assets and an executor's deed may be used to convey the title or real property to the grantee.
Utah mineral rights include crude oil and natural gas. Utah ranks 13th in the nation for crude oil production and 8th in the nation for natural gas production. Utah currently has approximately 8,600 wells producing oil and natural gas.
Under a special warranty deed, the grantor warrants only that they received the title and the property was not encumbered during their period of ownership. The grantee could fall afoul of title defects or encumbrances that occurred prior to the grantor's ownership. Bargain and Sale Deeds.
A warranty deed is a document often used in real estate that provides the greatest amount of protection to the purchaser of a property. It pledges or warrants that the owner owns the property free and clear of any outstanding liens, mortgages, or other encumbrances against it.
In Utah, you must record with the County Recorder within 30 days from the date of location. Notice must include township, range, section, and quarter section in which the claim is located, location date, type of location, claim name, claimant(s) name and address.
DEED: A written instrument by which one party, the Grantor, conveys the title of ownership in property to another party, the Grantee. A Warranty Deed contains promises, called covenants, that the Grantor makes to the Grantee.
Surface Rights and Mineral Rights. A fee simple estate is complete private ownership of the surface land, minerals below and air above. A private property owner can sell or lease mineral rights while still retaining ownership of the surface land. Mineral rights often include any gas or oil below the surface.
Mineral rights don't come into effect until you begin to dig below the surface of the property. But the bottom line is: if you do not have the mineral rights to a parcel of land, then you do not have the legal ability to explore, extract, or sell the naturally occurring deposits below.