Who owns the Colonial Pipeline?

Originally founded by nine oil companies in 1961, Colonial Pipeline is now owned by Koch Industries, Royal Dutch Shell, KKR & Co., IFM Investors and CDPQ Colonial Partners, according to the company's website.

What is pipeline easement?

What is a Pipeline Easement? Generally, an easement is a legal interest that allows someone the right to use another's property for a certain purpose. A pipeline easement specifically gives the easement holder the right to build and maintain a pipeline on a landowner's property.

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Release of Surface Damages For Pipeline Easement

Wake North Carolina Release of Surface Damages For Pipeline Easement

Name: Wake North Carolina Release of Surface Damages For Pipeline Easement
Brand: US Legal Forms
Rating: 4.76 (412 reviews)

Category:

Oil Gas and Minerals - Releases

State:

Multi-State

County:

Wake

Control #:

US-OG-553

Format:

Instant download

Description

This is a form of Release for Surface Damages For a Pipeline Easement. Title: Understanding the Wake North Carolina Release of Surface Damages for Pipeline Easement Introduction: The Wake North Carolina Release of Surface Damages for Pipeline Easement is a legal document that outlines the rights and compensation terms for landowners affected by pipeline development in the Wake region of North Carolina. This comprehensive guide provides a detailed explanation of what this release entails, its importance, and the different types available. Content: 1. Understanding the Wake North Carolina Release of Surface Damages for Pipeline Easement — Definition and Purposreleasesas— - Role of the Document in Pipeline Projects — Importance of Obtaining a Release 2. Key Elements of the Wake North Carolina Release of Surface Damages for Pipeline Easement — Release of Liability Claus— - Required Documentation — Compensation Guidelines 3. Types of Wake North Carolina Release of Surface Damages for Pipeline Easement — Standard Release: This is the most common type of release, covering general surface damages caused during pipeline construction and operation. — Limited Release: This variation of the release may pertain to specific sections or areas of the pipeline route, addressing partial surface damages. — Extended Release: It encompasses additional provisions to account for long-term surface damages during the lifetime of the pipeline. 4. Provisions Included in the Wake North Carolina Release of Surface Damages for Pipeline Easement — Surface Restoration Guidelines: Outlines the methods and standards for land restoration once construction is complete. — Compensation Terms: Describes the types of compensation offered to landowners, including monetary payments, alternative land arrangements, or compensation for crop or soil damage. — Recourse Clause: States the rights of landowners to seek legal remedies in case of any violations or discrepancies. — Termination Conditions: Specifies the circumstances under which the easement release may be terminated. 5. Importance of Consulting an Attorney for the Release of Surface Damages for Pipeline Easement — Legal Considerations and Implication— - Reviewing and Negotiating Terms — Mediating Disputes and Protecting Landowner Rights Conclusion: The Wake North Carolina Release of Surface Damages for Pipeline Easement is a crucial document that plays a significant role in protecting the rights and ensuring fair compensation for landowners affected by pipeline development. Familiarizing oneself with the release types and its provisions, as well as consulting legal experts, will help landowners navigate the process efficiently and safeguard their interests.

Title: Understanding the Wake North Carolina Release of Surface Damages for Pipeline Easement Introduction: The Wake North Carolina Release of Surface Damages for Pipeline Easement is a legal document that outlines the rights and compensation terms for landowners affected by pipeline development in the Wake region of North Carolina. This comprehensive guide provides a detailed explanation of what this release entails, its importance, and the different types available. Content: 1. Understanding the Wake North Carolina Release of Surface Damages for Pipeline Easement — Definition and Purposreleasesas— - Role of the Document in Pipeline Projects — Importance of Obtaining a Release 2. Key Elements of the Wake North Carolina Release of Surface Damages for Pipeline Easement — Release of Liability Claus— - Required Documentation — Compensation Guidelines 3. Types of Wake North Carolina Release of Surface Damages for Pipeline Easement — Standard Release: This is the most common type of release, covering general surface damages caused during pipeline construction and operation. — Limited Release: This variation of the release may pertain to specific sections or areas of the pipeline route, addressing partial surface damages. — Extended Release: It encompasses additional provisions to account for long-term surface damages during the lifetime of the pipeline. 4. Provisions Included in the Wake North Carolina Release of Surface Damages for Pipeline Easement — Surface Restoration Guidelines: Outlines the methods and standards for land restoration once construction is complete. — Compensation Terms: Describes the types of compensation offered to landowners, including monetary payments, alternative land arrangements, or compensation for crop or soil damage. — Recourse Clause: States the rights of landowners to seek legal remedies in case of any violations or discrepancies. — Termination Conditions: Specifies the circumstances under which the easement release may be terminated. 5. Importance of Consulting an Attorney for the Release of Surface Damages for Pipeline Easement — Legal Considerations and Implication— - Reviewing and Negotiating Terms — Mediating Disputes and Protecting Landowner Rights Conclusion: The Wake North Carolina Release of Surface Damages for Pipeline Easement is a crucial document that plays a significant role in protecting the rights and ensuring fair compensation for landowners affected by pipeline development. Familiarizing oneself with the release types and its provisions, as well as consulting legal experts, will help landowners navigate the process efficiently and safeguard their interests.

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Colonial Pipeline is just one part of a vast, national energy transmission system. Petroleum products flow through pipelines - some above ground, and some, like Colonial, buried beneath the ground that provide fuel for our cars, homes, factories, and for airline travel and defense.

If it were publicly traded, the Colonial's stock would undoubtedly have tumbled. But the 59-year-old firm is privately held, with its ownership split among five owners spread across five countries on four continents.

Payments for damage to land or property rights are generally characterized as a return of capital and gain to the extent the payments exceed the adjusted basis. Payments for anticipated surface damages (as opposed to payments for loss of surface use) are taxable as ordinary rental income.

The Colonial Pipeline is the largest pipeline system for refined oil products in the U.S. The pipeline consisting of two tubes is 5,500 miles (8,850 km) long and can carry 3 million barrels of fuel per day between Texas and New York.

The pipeline company typically pays the landowner in price per foot or per acre for farm land of the property that the pipeline passes. The price is based on the length of the easement. Some companies offer prices based on linear rod, not linear foot.

Originally founded by nine oil companies in 1961, Colonial Pipeline is now owned by Koch Industries, Royal Dutch Shell, KKR & Co., IFM Investors and CDPQ Colonial Partners, according to the company's website.

COLONIAL PIPELINE COMPANY An easement agreement, which was negotiated when the pipeline was installed, gives Colonial the legal right to bury, maintain and retain access to the pipeline on your property for general maintenance and repair.

You don't usually report payment for an easement or damages. You only reduce your cost basis in the remaining property, by the amount you received, for when the property is sold in the future. But,if you got the 1099-S, it must be reported on your tax return, but it is most likely not taxable.

Interstate pipelines are managed by the Federal Energy Regulatory Commission (FERC) and the U.S. Department of Transportation (DOT). The Federal Energy Regulatory Commission regulates pipelines, storage, natural gas transportation in interstate commerce, and liquefied natural gas facility construction.

What is a Pipeline Easement? Generally, an easement is a legal interest that allows someone the right to use another's property for a certain purpose. A pipeline easement specifically gives the easement holder the right to build and maintain a pipeline on a landowner's property.

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Is when a person is injured or property is damaged and the pipeline or the pipelines easement area has played a part in the incident occurring. Require the company to be responsible for damages caused not only during construction, but also during future maintenance, repair, and replacement activities.Financial compensation in exchange for an easement to use the property. The grantee will probably require some consideration be allocated to the release for surface damages. Wake County offices will be closed Monday, May 30, for Memorial Day. Some locations may have altered schedules. Designated No-wake . Large MPO areas, which are described in the Funding section. Released through the low-lying portions of the pipeline through existing surface structures and into natural and artificial drainages.

A company may request for the release to be suspended when a significant amount of water has been released into the area and the release, if continued, will cause irreversible damage. It is important to be prepared if this would occur. There are some areas that have been modified for the release and some that were not designed to be used by either wind or water. The released water may be in the form of a slow moving flow, a moving slow moving stream, a rapid moving flood or a rushing stream. Some of these areas also have a large volume of rain. If water is used in this way it will run through nearby trees and vegetation and into surrounding waters. The company will need to ensure proper and safe disposal of the wet and muddy material. The property owner may also have the option of requesting a water-level limit in the form of either a physical structure or a dam. This will be used to estimate the amount of water that can be released.

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The materials in this section are taken from public sources. We disclaim all representations or any warranties, express or implied, as to the accuracy, authenticity, reliability, accessibility, adequacy, or completeness of any data in this paragraph. Nevertheless, we make every effort to cite public sources deemed reliable and trustworthy.

Wake North Carolina Release of Surface Damages For Pipeline Easement

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Is the Colonial Pipeline above or below ground?

Is Colonial Pipeline public or private?

Are surface damages taxable income?

What is the Colonial Pipeline system?

Do landowners get paid for pipeline?

Who owns the Colonial Pipeline?

What is Colonial pipeline easement?

Are pipeline damages taxable?

Who is responsible for pipelines?

What is pipeline easement?

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