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.
Indiana Correction to Mineral Deed As to Interest Conveyed: A Comprehensive Guide In Indiana, a correction to a mineral deed as to interest conveyed is a legal process used to rectify any mistakes, errors, or omissions in the initial mineral deed that affects the conveyed interest. This correction enables both parties involved in the transaction to ensure that the mineral rights are accurately transferred and recorded. There are two types of correction to a mineral deed as to interest conveyed in Indiana: 1. Correcting Interest Percentage: This type of correction occurs when there is an error in specifying the exact percentage of mineral interest conveyed to a particular grantee. It could be a simple typographical error or a miscalculation that needs rectification. For instance, if the original deed states that 30% of mineral interest is conveyed, but it later turns out that the accurate percentage is 50%, a correction to the mineral deed is necessary to rectify this mistake. 2. Correcting Parties Involved: This type of correction is needed when there is an error in naming the parties involved in the mineral deed conveyance process. It could be a misspelled name, incorrect entity representation, or any other mistake related to the identification of the granter or grantee. The correction ensures that the proper parties are accurately reflected in the records of the mineral rights ownership. To initiate a correction to a mineral deed as to interest conveyed in Indiana, certain steps should be followed: 1. Determine the Error: The first step is identifying the specific error in the initial mineral deed that needs correction. This could involve reviewing the original document and comparing it with the intended terms. 2. Research Applicable Laws: Before proceeding with the correction, thorough research of Indiana's laws and regulations regarding mineral deed corrections is essential. It is advisable to consult a qualified attorney or seek legal advice to ensure compliance with the state's requirements. 3. Draft a Correction Document: Prepare a correction document that accurately details the error being corrected, referencing the original document by its recording information. This document should explicitly state the correction being made and provide the correct information. 4. Sign and Notarize: Both the granter and grantee involved in the original mineral deed must sign the correction document. Additionally, signatures must be notarized to authenticate the correction. 5. File the Correction Document: Submit the correction document to the appropriate county recorder's office where the original mineral deed was recorded. Pay any required filing fees and ensure the document is recorded within the designated time frame. 6. Notify Relevant Parties: It may be necessary to notify all interested parties, such as lenders, lessees, or operators, about the correction to the mineral deed. This ensures that all parties are aware of the accurate conveyance of mineral interests and can update their records accordingly. Completing a correction to a mineral deed as to interest conveyed in Indiana requires attention to detail, adherence to legal procedures, and appropriate documentation. Working with an experienced attorney during this process is highly recommended avoiding potential complications or mistakes that may arise. Keywords: Indiana, correction to mineral deed as to interest conveyed, correction document, error, interest percentage correction, parties involved correction, legal procedures, filing fees, county recorder's office, accurate conveyance, legal advice.
