A North Carolina Deed (As to Specified Subsurface Depths) is a legal document that denotes the ownership rights and restrictions associated with specified subsurface depths of a property in the state of North Carolina. This type of deed is essential in clarifying and defining the rights and interests of individuals regarding the utilization, extraction, and exploration of resources found below the surface of a property. There are various types of North Carolina Deeds (As to Specified Subsurface Depths) that can be created, each catering to specific circumstances and requirements. These may include: 1. Mineral Deed: This type of deed specifically addresses the ownership and transfer of mineral rights, including coal, oil, gas, and other valuable subsurface minerals found on the property. 2. Oil and Gas Lease: It is a deed used when the owner of a property grants an individual or company the right to explore and extract oil and gas reserves located beneath the surface of the property. The lease outlines the terms, conditions, and payments associated with these rights. 3. Royalty Deed: A royalty deed entitles a party to receive a percentage of the revenue generated from the extraction of minerals from a property. This type of deed is commonly seen in situations where the owner of the property does not wish to conduct mining operations themselves but wants to profit from the resources extracted. 4. Surface Rights Deed: This deed encompasses the transfer of rights related to the surface area of the property, including the structures, improvements, and land. It does not involve subsurface rights or the extraction of resources. In North Carolina, these deeds are crucial to establish clear boundaries and rights between property owners, mineral rights owners, and companies in the mining, oil, and gas industries. They ensure that all parties involved understand their responsibilities and entitlements when it comes to subsurface resources. It is important to consult with a qualified attorney or a real estate professional familiar with North Carolina laws while dealing with North Carolina Deeds (As to Specified Subsurface Depths). This ensures that the respective parties' rights, obligations, and interests are properly addressed and protected within the legal framework of the state.
North Carolina Deed (As to Specified Subsurface Depths)
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FAQ
"A deed seeking to convey an interest in land "is void unless it contains a description of the land sufficient to identify it or refers to something extrinsic by which land may be identified with certainty." Overton v. Boyce, 289 N.C. 291, 293, 221 S.E.2d 347, 348 (1976).
A North Carolina quitclaim deed form is a legal document transfers whatever ownership interest the signer holds with no guarantee of its validity or status. Like a non-warranty deed, a quitclaim deed provides no warranty of title and places the risk of title problems on the new owner.
§ 41-72. Determination of the interests of joint tenants in a joint tenancy with right of survivorship. (a) The interests of joint tenants in a joint tenancy with right of survivorship shall be deemed to be equal unless otherwise provided in the instrument of conveyance.
A North Carolina deed must be recorded?or registered?to include the deed within the official land records. An unrecorded deed is not binding on third parties, and a deed transferring property as a gift is void if not recorded within two years after signing.
Joint tenancy. Property owned in joint tenancy automatically passes to the surviving owners when one owner dies. No probate is necessary. Joint tenancy often works well when couples (married or not) acquire real estate, vehicles, bank accounts or other valuable property together.
No deed or other writing purporting to convey land or an interest in land shall be declared void for vagueness in the description of the thing intended to be granted by reason of the use of the word "adjoining" instead of the words "bounded by," or for the reason that the boundaries given do not go entirely around the ...
Essential Elements of a Valid Deed Use of the proper statutory form of deed. Competent parties: grantor and grantee. Words of grant or operative words of conveyance. Sufficient description of the property to be conveyed. Proper execution. Delivery and acceptance.
Must contain the name of the person giving (Grantor) and the person receiving (Grantee). Must state in the document that you are conveying/granting/quitclaiming the property. Must have the correct property identification ? usually the legal description or at least the property address.
