A Tennessee Warranty Deed for Surface and Mineral Interests is a legal document used to transfer ownership of both the surface rights and mineral rights of a property from one party to another. This type of deed provides assurance that the seller has the legal right to sell the property and guarantees that the property is free from any undisclosed encumbrances or claims. The Tennessee Warranty Deed for Surface and Mineral Interests ensures that the buyer receives full ownership and control over both the surface land and any minerals or resources that may lie beneath it. This includes the right to extract, explore, and profit from any valuable minerals, such as oil, gas, coal, or any other subsurface resources. In Tennessee, there are no specific variations or different types of Warranty Deeds for Surface and Mineral Interests. The standard Tennessee Warranty Deed for Surface and Mineral Interests is used for the transfer of both the surface rights and mineral rights without any specific classifications or distinctions. When drafting a Tennessee Warranty Deed for Surface and Mineral Interests, several crucial elements should be included. These elements are: 1. Names and addresses of the granter (seller) and grantee (buyer). 2. A clear and accurate description of the property being conveyed, including its boundaries and legal description. 3. A statement indicating that the granter is conveying both the surface rights and mineral rights. 4. Affirmation that the granter is the legal owner of the property and has the authority to sell it. 5. Guarantee that the property is free from any undisclosed encumbrances, claims, or liens, except as explicitly disclosed in the deed. 6. Signatures of the granter(s) and their acknowledgment before a notary public. It is important to consult with a qualified attorney or licensed real estate professional when drafting or reviewing a Tennessee Warranty Deed for Surface and Mineral Interests to ensure compliance with state laws and to address any specific concerns or conditions related to the property or mineral rights being transferred. In summary, a Tennessee Warranty Deed for Surface and Mineral Interests is a legally binding document that transfers both the surface rights and mineral rights of a property. It guarantees the buyer's ownership and freedom from any undisclosed claims or encumbrances. Seek professional advice when dealing with such deeds to ensure a smooth and lawful transaction.
Tennessee Warranty Deed for Surface and Mineral Interests
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How to fill out Tennessee Warranty Deed For Surface And Mineral Interests?
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FAQ
A mineral deed is just like a warranty deed, accept it only transfers the minerals in the sub surface of a property. A warranty deed can be used transfer both the surface, and mineral rights. But a mineral deed can only be used to transfer the minerals.
It's important to note, during the sale the buyer usually signs the ?affidavit of consideration? on the deed. On this affidavit, someone is stating under oath the value of the consideration paid for the property being sold. A false statement could arguably lead to a charge of perjury.
A lawful warranty deed includes the grantor's full name, mailing address, and marital status, the consideration given for the transfer, and the grantee's full name, marital status, vesting, and mailing address. Vesting describes how the grantee holds title to the property.
A warranty deed promises that the grantor holds good, clear title to a piece of real estate. It promises also that the grantor has the right and authority right to sell it to the grantee or buyer. A quitclaim deed, on the other hand, makes no promises about the quality of the title to the property.
In the United States, landowners possess both surface and mineral rights unless they choose to sell the mineral rights to someone else. Once mineral rights have been sold, the original owner retains only the rights to the land surface, while the second party may exploit the underground resources in any way they choose.
A Tennessee deed form conveys interest in property from one party (the ?grantor?) to another (the ?grantee?). The documents can be prepared by anyone as long as the required information is written in the deed as outlined in § 66-5-103.
Warranty Deed: In this type of deed, the grantor?or the seller?is providing a warranty to the grantee?or the buyer?that he or she is conveying a good and marketable title. The grantor is also stating that he or she owns the property and has the right to sell it.
(c) Any interest in coal, oil and gas, and other minerals shall, if unused for a period of twenty (20) years, be extinguished, unless a statement of claim is filed in ance with subsection (d), and the ownership of the mineral interest shall revert to the owner of the surface.