This form is used to when it has been discovered that through a drafting error the (Fraction or Percentage ) interest in the mineral estate conveyed in a Deed was stated incorrectly. It is the purpose of this instrument and the intention of Grantor and Grantee to correct this error, and to accurately state the actual mineral interest intended to be conveyed by the Deed.
Illinois Correction to Mineral Deed As to Interest Conveyed: Explained in Detail In Illinois, a Correction to Mineral Deed As to Interest Conveyed is a legal instrument utilized to rectify any errors or omissions in a previously recorded mineral deed concerning the interest conveyed in mineral rights. This document is crucial to ensure accuracy and clarity in property ownership. Types of Illinois Correction to Mineral Deed As to Interest Conveyed: 1. Correction of Percentage Interest Conveyed: This type of correction is needed when the percentage interest conveyed in the mineral rights deed was incorrectly stated. It rectifies any inaccuracies related to the actual interest percentage conveyed by providing corrected and accurate information. 2. Correction of Mineral Lease Terms: This specific type of correction involves the revision of lease terms in a mineral deed. It could be necessary when the original deed contains errors in the terms and conditions agreed upon by the parties involved. This correction aims to reflect the accurate and intended terms regarding the lease of mineral rights. 3. Correction of Affected Mineral Parcels: Sometimes, a correction may be required to address errors or omissions related to specific mineral parcels mentioned in the original mineral deed. This correction ensures that all identified parcels listed are accurate and align with the intended conveyance. Key Considerations in an Illinois Correction to Mineral Deed As to Interest Conveyed: 1. Accurate Identification: The correction document should clearly identify the original mineral deed being corrected. Details such as the recording information, date, and parties involved should be included for clarification and reference. 2. Precise Modification: The document should clearly state the corrections being made, whether adjusting percentages, lease terms, or specific identified mineral parcels. It is essential to provide accurate information to avoid further confusion or disputes. 3. Notarization and Recording: For a correction to be legally binding, it should be signed by the granter and grantee before a notary public. The corrected document should subsequently be recorded in the county where the original mineral deed was filed to ensure its validity and accessibility. 4. Collaboration and Agreement: The correction must have the unanimous consent and agreement of all parties involved in the original mineral deed. It should be a collaborative effort to rectify any errors or omissions, ensuring fair representation of all interests. 5. Professional Legal Assistance: Seeking guidance from a qualified attorney experienced in real estate and mineral rights law is strongly recommended when preparing a Correction to Mineral Deed As to Interest Conveyed. A legal professional can help navigate the complexities involved and ensure compliance with relevant laws and regulations. In conclusion, an Illinois Correction to Mineral Deed As to Interest Conveyed is a critical legal document used to correct errors or omissions in a previously recorded mineral deed. It is crucial to accurately identify the corrections required, collaborate with all involved parties, and follow the correct legal procedures to ensure the correction is legally binding and enforceable.
