Grantor conveys, with limited warranty, unto the grantees all of grantor's mineral interest, including but not limited to oil, gas, carbon dioxide, and all other minerals in, on and under certain property described in the document.
Idaho Oil, Gas and Mineral Deed - Individual to Two Individuals
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How to fill out Oil, Gas And Mineral Deed - Individual To Two Individuals?
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Search Idaho Statutes 15-6-401. Community property with right of survivorship in real property. Any estate in real property held by a husband and wife as community property with right of survivorship shall, upon the death of one (1) spouse, transfer and belong to the surviving spouse.
Recording of the deed provides notice to others as to who owns the property and when and whether any interest in the property has been transferred. Before recording, the signature of the parties must be acknowledged before a notary public in Idaho.
A person may also own rights to only one kind of mineral, such as oil and gas, or to only one formation or depth interval. The ownership of the mineral rights in a parcel can usually be determined by examining the deed abstract for the property.
In Idaho, there is no state gift tax. Gifts of real property in Idaho are, however, subject to the federal gift tax. The person or entity making the gift (grantor or donor) is responsible for paying the federal gift tax; however, if the donor does not pay the gift tax, the donee (grantee) will be held liable [1].
This is simple. You prepare a gift deed or transfer deed that identifies yourself as the owner, describes the property by a legal description, and then identifies your children as the recipients or Grantees of that property.
The most common way to transfer property is through a general warranty deed (sometimes called a "grant deed"). A general warranty deed guarantees good title from the beginning of time. A special warranty deed only guarantees good title during the seller's time of ownership.
