North Carolina Legal Description and Well or Unit Information is crucial in the oil and gas industry as it provides a detailed account of the specific location and boundaries of a well or unit in the state of North Carolina. This information plays a pivotal role in determining ownership rights, lease agreements, and regulatory compliance for drilling operations. Legal Description: The legal description in North Carolina typically consists of three essential components: the township, range, and section. This grid-based system is used to identify and locate the position of the well or unit accurately. 1. Township: In North Carolina, townships are designated by a combination of a specific range and tier. A range represents a column of six miles from east to west, while a tier represents a row of six miles from north to south. Township identification is expressed in terms of both range and tier, for example, Township 5 South, Range 3 East. 2. Range: The range indicates the distance east or west from a designated meridian line running north to south. Each range is allocated six miles with adjacent ranges varying by one-mile increments. 3. Section: A section represents a one-mile square of land within a township, typically measuring approximately 640 acres. Sections are numbered consecutively starting from the northeast corner and proceed right to left, row by row, until completing the entire township. Well or Unit Information: Once the legal description is established, well or unit information further refines the specific location and outlines the technical characteristics of the drilling unit. 1. Well Information: This includes the unique identification number assigned to each well drilled in North Carolina, commonly referred to as an API (American Petroleum Institute) number. Well information also encompasses key details such as well status, well type (oil, gas, injection), drilling depths, production volumes, and well bore diagrams. 2. Unit Information: A drilling unit represents an area of land authorized for oil and gas exploration. In North Carolina, various types of units exist, including but not limited to: — Spacing Units: These units define the land area covered by an individual well or a cluster of wells within a specific formation, ensuring optimal resource extraction while minimizing environmental risks. — Pooling Units: In situations where multiple mineral rights owners hold adjacent properties, pooling units are established to consolidate the area and allow joint development and production operations. — Production Units: These units are formed to manage production rates and prevent over-drilling in certain areas. A production unit may encompass multiple wells from different property owners, ensuring equitable distribution of resources. Overall, North Carolina Legal Description and Well or Unit Information are critical elements in the oil and gas industry, providing a comprehensive understanding of the location, boundaries, and technical attributes of drilling sites, facilitating efficient resource management and compliance with regulatory standards.
North Carolina Legal Description and Well or Unit Information
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NC Real Estate Disclosure law mandates that sellers identify and disclose any known defects in their property before a purchase contract is signed. The purpose of this is to ensure that buyers are not surprised by a problem in the home and to defend the sellers from legal proceedings.
At the registry of deeds office, you can request information on a property that will provide you with the public record of who owns the property and some basic information about its current legal status and any liens or claims on the property.
How do I add or remove names from a deed? Deed name changes require the submittal of a new deed to the Register of Deeds office. We suggest that you consult an attorney unless you are familiar with creating legal documents.
Material Fact: Any fact that could affect a reasonable person's decision to buy, sell, or lease is considered a material fact and must be disclosed by a broker to the parties in the transaction and any interested third parties regardless of the broker's agency role within the transaction.
When they lie, you have grounds for a lawsuit against the seller. Any kind of misrepresentation or even failure to disclose defects in the home can lead to financial compensation. Had the seller disclosed some defects, you might not have bought the home.
The Residential Property Disclosure Act, codified as North Carolina G.S. 47E, requires the seller of residential real estate (one to four dwelling units) to complete a form?known formally as the Residential Property and Owners' Association Disclosure Statement?disclosing conditions and defects with the property.
Many counties have their real property (land) records online. Go to the county website. Land records may be listed under: public information, land records, Register of Deeds online, or some other name.
Disclosing Home Defects: Sellers' Responsibilities If they forget or refuse, the sale is not valid. If a new home buyer discovers a material defect that the seller failed to disclose before the close of the sale, the law may give them the right to cancel the transaction.
