Arkansas Warranty Deed for Surface and Mineral Interests, With Reservation of All Coal
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How to fill out Warranty Deed For Surface And Mineral Interests, With Reservation Of All Coal?
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FAQ
Notary fees are normally charged to the party whose signature is being notarized. For the warranty deed, that is the seller.
A general warranty deed is the gold standard of property transfers. This type of deed is overwhelmingly used in residential purchases. Most lenders require a warranty deed for properties they finance. It offers buyers the greatest possible protection from future claims against the title.
Since mineral rights can be sold separately from the land itself, even if you own the land, someone else may hold ownership of what's below it. And because of the intrinsic value of what's below the surface, the land itself may come with a price tag much higher than otherwise seen in the area.
The deed must be acknowledged and notarized by a notary public in Arkansas. Per § 18-12-102 of the Arkansas Code, a warranty deed must contain the words ?grant, bargain, and sell? when stating how the property is being transferred.
In the State of Arkansas when a person sells a piece of property the mineral rights automatically transfer with the surface rights, unless otherwise stated in the deed.
Whether mineral rights transfer with the property depends on the estate type. If it's a severed estate, surface rights and mineral rights are separate and do not transfer together. However, if it's a unified estate, the land and the mineral rights can be conveyed with the property.
A mineral deed conveys a seperate estate in minerals in Arkansas. You should use a mineral deed when you wish to deed away the mineral rights to property but not the surface rights. An Arkansas mineral deed is also used to transfer existing mineral rights among mineral owners.
The right to minerals transfers at the time of death to the individuals named as beneficiaries. If no specific beneficiaries to the mineral rights are designated, ownership passes to the property and real estate heir.