Virgin Islands Term Royalty Deed

State:
Multi-State
Control #:
US-OG-045
Format:
Word; 
Rich Text
Instant download

Description

This form conveys a royalty interest for a specified term of years. If there is production at the end of that term, or the lands are subject to an oil and gas lease, the interest will continue to be owned by the grantee until production ceases.

How to fill out Term Royalty Deed?

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FAQ

There are no sales taxes in the USVI. There are several other taxes that do apply, however, including the following: Real Property Taxes. Other USVI Taxes - US Virgin Islands usvi.net ? information ? other-usvi-taxes usvi.net ? information ? other-usvi-taxes

US Virgin Islands is not a tax haven or offshore jurisdiction, but USVI companies (or corporations) could be established as "USVI Exempt Companies" with partial or full exemption from local and US federal income taxes.

Land tax is payable on every acre or part of an acre of land in the territory. House tax is payable on the assessed value of every house in the territory. The combined (Land and House) tax, referred to as Property Tax, is charged to every owner who erects, reconstructs, enlarges or repairs any existing building.

Individuals who are bona fide residents of the Virgin Islands file Form 1040 with the Virgin Islands and pay tax on their worldwide income to the Virgin Islands.

The US Virgin Islands currently imposes a real property tax at 1.25% of the property´s assessed value. The property´s assessed value is 60% of its actual value or fair market value. Taxes on Foreigners' Real Estate Rental Income in US Virgin Is. globalpropertyguide.com ? taxes-and-costs globalpropertyguide.com ? taxes-and-costs

Located in the US Virgin Islands, St. Croix is a US territory making it an easy place for US citizens to purchase property. It also happens to be surrounded by the turquoise waters of the Caribbean Sea and white sand beaches, plus the tropical climate creates the feeling of endless summer.

Mineral rights deeds are not the same as royalty deeds. Royalty deeds do not allow for surface access, or for the initiation of the extraction and sale of minerals. A royalty owner will only benefit economically if the mineral owner decides to produce and sell the minerals. Understanding the Mineral Deed - Landgate landgate.com ? news ? understanding-the-m... landgate.com ? news ? understanding-the-m...

Transfer taxes in the USVI exist on a sliding scale starting at 2% of the purchase price ranging up to 3.5% for properties sold in excess of $5 million USD. US Virgin Islands Frequently Asked Questions sothebysrealty.com ? usvisir ? eng ? faq sothebysrealty.com ? usvisir ? eng ? faq

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Virgin Islands Term Royalty Deed