Hawaii Quitclaim Deed for Mineral / Royalty Interest
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How to fill out Quitclaim Deed For Mineral / Royalty Interest?
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FAQ
The deed or assignment of lease must be signed (in black ink) by the current owner and the new owner before a notary public. The deed or assignment of lease must be recorded in the State of Hawaii Bureau of Conveyances or Land Court. A Conveyance Tax Certificate must be filed and any tax due must be paid.
A Hawaii quitclaim deed is a form of deed conveying interest in real property from a Seller (the ?Grantor?) to a Buyer (the ?Grantee?). Because it is a quit claim, the seller is transferring the property with no guarantee whatsoever that he or she has clean title to the property.
A Quitclaim Deed transfers whatever interest the Grantor may have in the property. It makes no guarantees, whatsoever. For example, anyone could Quitclaim their interest in any property whether they owned it or not.
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.
The parties involved in the property transfer must affix their signature, including the date signed, on the quitclaim deed in the presence of a notary public. After the quitclaim deed has been notarized, it can be filed in the Register of Deeds Office within the County to make the property transfer legal and effective.
Hawaii is a lien theory state and uses mortgages instead of deeds of trust.
Yes. The Hawaii Uniform Real Property Transfer on Death Act allows a single TOD deed to be signed by joint owners. The law sees a property owner who owns property with another owner with right of survivorship as a joint owner.
The person responsible for the tax is generally the transferor, grantor, lessor, sublessor, conveyor, or other person conveying the real property interest (HRS §247-3). The ® standard purchase contract directs escrow to charge the conveyance tax to the seller.
