The Texas Addendum For Reservation of Oil Gas and Other Minerals is a legal document used by a seller to reserve mineral rights when transferring title to residential, commercial, or agricultural real estate. The document reserves all minerals, including oil, gas, and any other kind of mineral found or found to be in, on, or underlying the property, to the seller and their successors and assigns. With this document, the seller is able to retain ownership of the minerals and receive any proceeds from their production. There are two types of Texas Addendum For Reservation of Oil Gas and Other Minerals: a standard form and a customized form. The standard form contains a general statement reserving the minerals and is typically used for a single property transfer. The customized form is used when a seller is transferring multiple properties that have different mineral ownership or mineral configurations. It allows the seller to customize the language to reflect the exact terms of the mineral reservation.
Texas Addendum For Reservation of Oil Gas and Other Minerals
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FAQ
Description: This Addendum is used when the Seller reserves all or a portion of the Mineral Estate.
How do I transfer ownership of mineral rights in Texas? After a divorce, mineral rights can be transferred by submitting the divorce decree and conveyances to the county (where the minerals are located) for recording. They usually go to the same agency that records titles and property deeds.
What does it mean to sell a property and retain mineral rights? A seller who wishes to sell a parcel of land can decide to limit the access of the new owner to everything above the surface, which is covered by the surface rights. As a result, the seller will still have rights over any minerals beneath the land.
If a seller wishes to reserve all or a part of the mineral interests and rights held by the seller in a residential transaction, the seller must use the Texas Real Estate Commission's Addendum for Reservation of Oil, Gas, And Other Minerals (TREC No. 44-2, TXR No. 1905).
If you own oil and gas rights, keeping up to date on these changes and trends is critical. The Oil and Gas Addendum is your resource for timely and informational articles on the latest developments in oil and gas law.
Mineral rights in Texas are the rights to mineral deposits that exist under the surface of a parcel of property. This right normally belongs to the owner of the surface estate; however, in Texas those rights can be transferred through sale or lease to a second party.
Form H1242, Verification of Mineral Rights Texas Health and Human Services.
Check The County Clerk's Office: You need to head over to the county clerk's office in the county where the minerals are located at. The office contains data, documents, and records of leases and deeds that have been filed for mineral rights.