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Texas Stipulation of Ownership of Mineral Interest in Specific Lands

Category:
Oil Gas and Minerals - Deeds
State:
Multi-State
Control #:
US-OG-063
Format:
Word; 
Rich Text
Instant download
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Description

This stipulation form is intended to be executed by parties, all of whom own undivided mineral interest in specific lands, to clarify/specify each partys undivided interest.

Texas Stipulation of Ownership of Mineral Interest in Specific Lands is a legal document that specifies the ownership rights and interests in mineral resources of a particular tract of land in Texas. It serves as an agreement between parties involved in the exploration, extraction, or development of minerals, ensuring clarity and protection of their respective interests. The stipulation outlines the ownership details, including the percentage of ownership, title rights, and any restrictions or limitations imposed on the mineral rights. It records the names of the owners, their contact information, and their corresponding percentage of ownership. This agreement is significant when multiple parties own a particular tract of land and intend to exploit its mineral reserves, such as oil, gas, coal, or precious metals. In Texas, there are different types of stipulations regarding the ownership of mineral interests in specific lands. Some of these include: 1. Texas Stipulation of Ownership of Oil and Gas Mineral Interest: This type of stipulation focuses specifically on oil and gas resources. It documents the percentage of mineral interest owned by each party, addressing matters like drilling rights, royalties, and lease agreements. 2. Texas Stipulation of Ownership of Coal Mineral Interest: Similar to the oil and gas stipulation, this document pertains to the ownership and exploitation of coal resources. It establishes the rights and responsibilities of each party involved in mining, leasing, or selling coal minerals. 3. Texas Stipulation of Ownership of Precious Metal Mineral Interest: This type of stipulation concentrates on the ownership rights and interests in minerals such as gold, silver, platinum, or other precious metals found on the specified land. It outlines the obligations and privileges of the parties related to mining, refining, or selling these valuable minerals. 4. Texas Stipulation of Ownership of Mineral Interest in Specific Land for Extraction: This stipulation refers to the extraction of various minerals, including but not limited to oil, gas, coal, or precious metals. It covers all the relevant ownership details and addresses matters pertinent to the extraction process, including licensing, permits, environmental considerations, and revenue sharing. In conclusion, a Texas Stipulation of Ownership of Mineral Interest in Specific Lands is a crucial legal instrument that establishes the ownership rights, responsibilities, and limitations regarding the exploration and exploitation of mineral resources in Texas. Whether it is for oil and gas, coal, precious metals, or other minerals, this document ensures transparency and protection for all parties involved.

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FAQ

Mineral rights are a form of real property, and they are governed by the same principles of marital property law as other real estate. If the mineral rights were owned before marriage, they are separate property.

However, since mineral rights are a severed portion of the land rights themselves (they're separated from the land's "surface rights" and sold separately by deed, just like the land itself), they are usually considered real property.

The ownership of rights to minerals, including oil and gas, contained in a tract of land. A mineral right is a real property interest and can be conveyed independently of the surface estate.

By statute and case law, mineral properties are taxable as real property and are subject to the same laws and appraisal methodology as all real property in the state.

Mineral interests are defined by the Texas Property Tax Code as real property and are subject to taxes the same as all other real property. When do mineral interests become taxable? Mineral interests become taxable on January 1 of the year following the first production of the unit.

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.

Under Texas law, land ownership includes two distinct sets of rights, or ?estates": the surface estate and the mineral estate. Initially, these two estates were owned by the same person and they may continue to be owned together by one person.

What Are Mineral Rights? Mineral rights are ownership rights that allow the owner the right to exploit minerals from underneath a property. The rights refer to solid and liquid minerals, such as gold and oil. Mineral rights can be separate from surface rights and are not always possessed by the property owner.

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In this form, the parties declare, stipulate, acknowledge, and establish of record each of their ownership interest in the mineral estate in the lands. Show ... III. CONVEYANCES OF FRACTIONAL MINERAL INTERESTS. 4. A. Describing the Interest Being Conveyed. 4. 1. Conveyances of Mineral Acres.by J Fambrough · 2009 · Cited by 4 — In Texas, the mineral estate is a separate interest in land that can be ... Contact the mineral owner and work out a land-use agree- ment or a comprehensive ... Add the Stipulation of Ownership of Mineral Interest of Mineral Ownership in Specific Lands for editing. Click the New Document button above, then drag and drop ... Sep 19, 2018 — The owner of such an interest is entitled to a specific share of ... the oil, gas and other minerals that may be produced from said land.” Id ... Click the New Document option above, then drag and drop the sample to the upload area, import it from the cloud, or via a link. Sep 27, 2023 — A mineral deed is necessary for a mineral rights owner who has the minerals in their name with a clear title. The deed's original recorded copy ... Nov 16, 2017 — I'm looking for a good template Stipulation of Interest agreement to use to transfer mineral and surface ownership of deceased intestate ... Under Texas law, land ownership includes two distinct sets of rights, or “estates": the surface estate and the mineral estate. Initially, these two estates were ... In the case of ownership or assignment of any undivided interest in this lease, no covenant or condition thereof, implied or expressed, is divisible.

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