Arkansas Deed (As to Specified Subsurface Depths) is a legal document that conveys ownership rights to specified subsurface depths of a property located in the state of Arkansas, USA. It is an important instrument used in real estate transactions, particularly in the exploration and extraction of mineral resources or underground utilities. In Arkansas, there are various types of deeds related to specified subsurface depths, each serving different purposes. Some commonly used ones include: 1. Mineral Deed: This type of deed focuses on the ownership and transfer of mineral rights below the surface of a property. It allows the granter to transfer the rights to extract valuable minerals, oil, gas, or other resources to the grantee. 2. Oil and Gas Lease: It is a legal agreement between the mineral owner (lessor) and an oil/gas company (lessee) that grants the lessee the right to explore, drill, and extract oil or gas from the specified subsurface depth for a specified period. The lease terms typically include royalty payments and provisions for environmental impact mitigation. 3. Easement Deed: Although not solely focused on subsurface depths, an easement deed may address rights related to underground utilities such as pipelines, cables, or access to water sources. It grants a specific party the right to use a portion of the property for a specific purpose without transferring ownership. These different types of Arkansas Deeds (As to Specified Subsurface Depths) are crucial to ensure clarity and protection of rights in subsurface resource exploration and utility installation. They establish legally-binding agreements between parties involved and help avoid disputes concerning ownership and access to valuable resources. When dealing with Arkansas Deed (As to Specified Subsurface Depths), it is essential to consult with experienced real estate attorneys or land agents who specialize in mineral rights and other subsurface issues. These professionals possess the necessary expertise to draft, review, and clarify the terms and conditions outlined in these deeds, protecting the rights and interests of all parties involved. In summary, Arkansas Deed (As to Specified Subsurface Depths) refers to a legal document that conveys ownership rights or grants access to specified subsurface depths for various purposes like mineral extraction, oil and gas exploration, or utility installation. Different types of deeds exist, including mineral deeds, oil and gas leases, and easement deeds, each serving a unique function in establishing rights and responsibilities in subsurface resource management.
Arkansas Deed (As to Specified Subsurface Depths)
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This costs very little ( $15 for the first page and $5 for each additional page). Compared to a probate, it is nothing! The Arkansas Beneficiary Deed causes your property to pass from you to your loved ones without the need for probate.
An Arkansas quitclaim deed is one of three deed forms Arkansas recognizes for transferring real estate during the owner's life. The distinguishing feature of quitclaim deeds is that they transfer the current owner's interest with no warranty or covenants of title.
This deed must be signed, notarized, and recorded in the county where the property is located. Some counties have more than one recording office, so you need to be sure this deed is being recorded in the correct recording office. Must list the name and address of the person who prepared this deed.
Arkansas charges a real property transfer tax for real estate transfers involving more than $100.00 in payment. The total transfer tax rate is $3.30 per $1,000.00 of consideration?two-thirds of which is expressly the new owner's responsibility.
In Arkansas, there are a number of different situations in which real property is transferred from one person to another, but they each have one thing in common ? a deed. A deed is the legal document which officially transfers ownership of a piece of property. Without a deed, there cannot be an actual transfer.
The state real property transfer tax rate is $3.30 for each $1,000 (or fraction thereof) on deeds, instruments, or writings when the consideration for the interest or property conveyed exceeds $100.
The new owner or that person's agent must submit a signed real property tax affidavit of compliance?or just affidavit of compliance?when filing a deed with the county recorder. The affidavit gives details about the transfer?including the purchase price and transfer tax amount or any exemption.
Arkansas deeds are recorded with the county recorder's office for the county where the property is located. In most Arkansas counties, the circuit clerk acts as county recorder and is responsible for maintaining land records and recording deeds. In other counties, the county clerk serves as county recorder.
