Settlement Distribution Letter With Payment
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If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
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FAQ
The State of North Carolina Mineral and Oil and Gas Rights Mandatory Disclosure Statement requires all sellers of a new or existing homes in NC to disclose whether the mineral, oil and gas rights for the property are owned by someone other than the seller. The purpose of this new law is to protect the buyer.
Yes, you can buy the mineral rights for a property you don't own. This is referred to as a severed estate, where someone owns the property surface rights with the mineral rights being separate.
The ownership of rights to minerals, including oil and gas, contained in a tract of land. A mineral right is a real property interest and can be conveyed independently of the surface estate.
A disclosure statement is not required for some transactions, including the first sale of a dwelling which has never been inhabited and transactions of residential property made pursuant to a lease with option to purchase where the lessee occupies or intends to occupy the dwelling.
Is the Mineral and Oil and Gas Rights Disclosure Provided when Selling Vacant Land? No. This only applies to certain ?transfers of residential real property consisting of not less than one nor more than four dwelling units".
