Missouri Partition Deed for Mineral / Royalty Interests
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How to fill out Partition Deed For Mineral / Royalty Interests?
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FAQ
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.
Mineral Interest ? interest generated after the production of oil and gas after the sale of a deed or a lease. Royalty Interest ? occurs when mineral rights are leased. Should the property owner enter into a lease agreement with another party, the owner of the mineral rights retains royalty interest.
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.
A quick overview of the differences between mineral rights and royalty interests shows a mineral interest is a real property interest obtained by severing the minerals from the surface and a royalty interest grants an owner a portion of the production revenue generated.
Mineral Interest (MI) When the mineral rights are conveyed to another person or entity, they are ?severed? from the land, and a separate chain of title begins. When a person owns less than 100% of the minerals, they are said to own a fractional or undivided mineral interest.
The ownership of rights to minerals, including oil and gas, contained in a tract of land. A mineral right is a real property interest and can be conveyed independently of the surface estate.
A mineral interest is simply a real property interest obtained from the severance or exploitation of minerals ? say natural gas ? from the surface. On the other hand, a royalty interest is the property interest that grants an owner a portion of the production revenue generated.
Missouri's statutes give the owner of the property rights to the minerals below the surface in the absence of a contract to the contrary. They also prescribe the duties of property owners and miner's.