Texas Quitclaim Deed of Mineral Interests
Definition and meaning
A Texas Quitclaim Deed of Mineral Interests is a legal document used to transfer ownership rights to mineral interests, such as oil and gas, from one party (the Grantor) to another (the Grantee) in Texas. This type of deed is distinct because it transfers whatever interest the Grantor may have in the minerals without making any guarantees about the value or existence of those interests.
How to complete a form
Completing a Texas Quitclaim Deed of Mineral Interests involves several steps:
- Identify the Grantors and Grantees accurately, including full legal names.
- Provide the legal description of the property to ensure clarity about the interests being transferred.
- Specify the consideration amount, typically a nominal sum, to validate the deed.
- Designate tax responsibilities for the year of the transfer.
- Sign the document in front of a notary public.
- Record the deed in the appropriate county office to finalize the transfer.
Who should use this form
This form is intended for individuals or entities in Texas who wish to transfer mineral rights. It is suitable for:
- Individuals selling or gifting their mineral interests.
- Partners in a business transferring interests between themselves.
- Anyone needing to clarify or formalize the ownership of mineral rights due to inheritance or family arrangements.
Key components of the form
Essential components of the Texas Quitclaim Deed of Mineral Interests include:
- Grantors and Grantees: Names of the individuals or entities transferring and receiving the rights.
- Legal Description: Precise details of the property where the mineral interests are located.
- Consideration Amount: The nominal payment that validates the transaction.
- Tax Responsibilities: Clarification on how taxes will be handled post-transfer.
- Signatures and Notarization: Required for the legal validity of the deed.
What documents you may need alongside this one
When filing a Texas Quitclaim Deed of Mineral Interests, having the following documents may be helpful:
- A previous deed or title that proves the Grantor's ownership of the mineral rights.
- Identification documents for all parties involved.
- Any existing agreements or contracts related to the mineral interests.
What to expect during notarization or witnessing
When you have your Texas Quitclaim Deed of Mineral Interests notarized:
- A notary public will verify the identities of all signatories.
- The signatories will need to present valid identification.
- The notary will witness the signing of the document and affix their seal, making the document legally binding.
Form popularity
FAQ
Also called a non-warranty deed, a quitclaim deed conveys whatever interest the grantor currently has in the property if any. The grantor only "remises, releases, and quitclaims" their interest in the property to the grantee.
A deed that names the seller/donor and the purchaser/donee. It states and describes the rights being sold or given. Filing of the notarized conveyance in the county government office which is generally the county clerk's office.
But you might be wondering if an owner can transfer a deed to another person without a real estate lawyer. The answer is yes. Parties to a transaction are always free to prepare their own deeds.A quitclaim deed, for example, is far simpler than a warranty deed.
Step 1: Download the TX quitclaim deed form. Step 2: In the upper left-hand corner, add the name and address of the person preparing the form. Under this, add the name and address of the person who will receive the form after the recorder's office is finished with it. Step 3: Write the county in the appropriate blank.
You can use a simple form, called a quitclaim deed, to transfer your joint property ownership to either yourself, a family member, a former spouse, or even a trust. Many utilize this deed to make property title transfers without the time and expense of legal fees.
1. You're buying the least amount of protection of any deed. Also called a non-warranty deed, a quitclaim deed conveys whatever interest the grantor currently has in the property if any. The grantor only "remises, releases, and quitclaims" their interest in the property to the grantee.
Rates vary by state and law office but typically fall in the range of $200 to $400 per hour. Title companies routinely prepare quitclaim deeds in many states.
Laws Section 13.002. Recording This form must be filed at the Recorder's Office in the County Clerk's Office. Signing (Section 11.002(c)) The Grantor(s) has the choice of authorizing this form in the presence of Two (2) Witnesses or a Notary Public.
The Quit Claim Deed form uses the terms of Grantor (Seller or Owner of said property) and Grantee (Buyer of said property) for the two parties involved. First, the parties must fill in the date. Then, write in the name of the county and state in which the property is located.