Missouri Disclaimer and Quitclaim of Interest in Mineral / Royalty Interest
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How to fill out Disclaimer And Quitclaim Of Interest In Mineral / Royalty Interest?
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FAQ
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.
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.
$24.00 for the first page, $3.00 each additional page. A $25 non-standard fee will be added if the document does not meet the Missouri Document Formatting Standards.
Quit claim deeds are common in divorces when one spouse grants his or her rights in real estate from the marriage over to the other spouse. A warranty transfers ownership and explicitly promises the buyer that the seller has good title to the property.
The grantee's address must be on the first page of the legal documents. Additionally, quitclaim deeds in Missouri require a physical description of the property being conveyed as well as the tax parcel number. While only the grantor signs the quitclaim deed in Missouri, they must be notarized.
You may either prepare it yourself or contact a real estate attorney to prepare it on your behalf. If you choose to prepare it yourself you will need a standardized form (Quit Claim Deed, Warranty Deed, Beneficiary Deed, any type of Affidavit, etc.) that meets Missouri formatting requirements.
Due to this, quitclaim deeds typically are not used in situations where the property involved has an outstanding mortgage. After all, it would be difficult for many grantors to pay off a mortgage without proceeds from the sale of the property.
Whenever a mineral rights holder enters a surface use agreement with a property owner, a particular expiration date may be included in the agreement. Once the agreement expires, the owner of the rights must negotiate a new agreement. Else, the rights will effectively expire.
