A Hawaii Partition Deed for Mineral/Royalty Interests is a legal document that allows multiple owners of mineral or royalty interests in real property located in Hawaii to divide their respective rights and interests. This type of deed is commonly used when co-owners of a property wish to separate their individual shares to have separate ownership, management, and control over their mineral or royalty interests. The process of creating a Hawaii Partition Deed involves identifying the specific mineral or royalty interests to be divided, determining the percentage or fractional share that each owner is entitled to, and legally documenting the new ownership structure. This document is crucial in ensuring that each owner has a clear title to their respective interests and can freely manage or transfer them as per their wishes. Different types of Hawaii Partition Deed for Mineral/Royalty Interests may vary based on the specific nature of the property or the interests being divided. Here are some common variations: 1. Fractional Mineral/Royalty Interest Partition Deed: This type of deed is used when each owner's interests are divided based on a specific percentage or fractional share. For example, if there are two owners, each might hold a 50% interest in the mineral or royalty rights. 2. Combo Mineral/Royalty Interest Partition Deed: Some properties may have both mineral and royalty interests. In such cases, a combo partition deed is used to divide both types of interests among the owners. 3. Area-Specific Mineral/Royalty Interest Partition Deed: In certain cases, the partition may be focused on a specific area or section of the property. This allows for targeted division of mineral or royalty interests, depending on the particular geological or geographical characteristics of that area. 4. Time-Limited Partition Deed: In situations where co-owners wish to divide their interests in a specific duration or purpose, a time-limited partition deed can be created. This ensures that the division of interests is temporary, and the rights and obligations of the co-owners revert to their prior arrangement after the specified period. In summary, a Hawaii Partition Deed for Mineral/Royalty Interests is a legal document used to divide co-owned mineral or royalty interests in real property. It allows for separate ownership, management, and control over such interests and ensures clear title and allocation of rights among the owners. The specific type of partition deed may vary based on the nature of the interests being divided, such as fractional, combo, area-specific, or time-limited.
Hawaii Partition Deed for Mineral / Royalty Interests
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How to fill out Hawaii Partition Deed For Mineral / Royalty Interests?
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FAQ
The term ?undivided interest? refers to a type of ownership in which multiple parties share ownership of a single asset without the property being physically divided among them. This is commonly seen in real estate, natural resource holdings, and certain types of financial investments.
Mineral rights deeds are not the same as royalty deeds. Royalty deeds do not allow for surface access, or for the initiation of the extraction and sale of minerals. A royalty owner will only benefit economically if the mineral owner decides to produce and sell the minerals.
In the United States, mineral rights can be sold or conveyed separately from property rights. As a result, owning a piece of land does not necessarily mean you also own the rights to the minerals beneath it. If you didn't know this, you're not alone.
If your deed does not list this information, you will need to contact the County Clerk in the county where your minerals are located. The County Clerk will either assist you in researching property deeds, or they can recommend a landman to assist you with this research.
You can hire a geologist or land surveyor to help you determine if there's something of value on your land. You can also look at mineral rights listings to see if your property has separate mineral rights for sale.
To find information on mineral rights, you may also visit the county clerk's office in the county where the minerals are located. This office stores data, documents, and records of leases and deeds filed for mineral rights.
One quick and dirty approach is the ?rule of thumb.? Those following the rule of thumb say that mineral rights are worth a multiple of three to five times the yearly income produced. For example, a mineral right that produces $1,000 a year in royalties would be worth between $3,000 and $5,000 under the rule of thumb.
You will need to sign the mineral deed form in front of a notary to confirm its authenticity, have it notarized, and have it recorded. The recorder of the deed can send a copy back to us, and you will keep a copy. And you are done!