A Virgin Islands Warranty Deed for Surface and Mineral Interests is a legal document that transfers ownership rights to both the surface and mineral interests in a property located in the U.S. Virgin Islands. This type of deed provides a guarantee from the granter (seller) to the grantee (buyer) that they hold clear and marketable title to both the surface and mineral rights of the property. It assures the buyer that no other party has any valid claims or encumbrances on the property, giving them peace of mind and legal protection. There are a few different types of Virgin Islands Warranty Deeds for Surface and Mineral Interests, namely: 1. General Warranty Deed: This is the most common type of warranty deed used in the Virgin Islands. It provides the broadest protection to the buyer, as it guarantees that the seller will defend the title against any claims, even those that may arise from previous owners. 2. Special Warranty Deed: This type of warranty deed offers a more limited guarantee compared to the general warranty deed. It warrants that the seller has not caused any encumbrances on the property during their ownership but does not protect against claims arising from previous owners. 3. Quitclaim Deed: While not technically a warranty deed, a quitclaim deed can also be used to transfer surface and mineral interests. However, unlike the warranty deeds, a quitclaim deed does not provide any warranties or guarantees. It simply transfers whatever interest the granter may have at the time of conveyance. When executing a Virgin Islands Warranty Deed for Surface and Mineral Interests, it is crucial for both parties to seek professional legal advice to ensure all necessary requirements and specific circumstances are considered. A thorough examination of the public records regarding the property's title history, survey, and any potential liens or encumbrances should be conducted prior to finalizing the deed. By utilizing a Virgin Islands Warranty Deed for Surface and Mineral Interests, property buyers can have greater assurance that they are acquiring both the surface and mineral rights free from any legal issues, ensuring a smooth and secure transfer of ownership.
Virgin Islands Warranty Deed for Surface and Mineral Interests
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FAQ
2d 878 (1940) was a Texas case. As a result, producing states have Texas to thank for the Duhig Rule. ing to Duhig, if there is a reservation of a ?specific interest? without mention of the prior reservation, and all parties can't be made whole, then the grantee is made whole at the grantor's expense.
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.
The general rule is that when full effect cannot be given to both the granted interest and to a reserved interest, the courts will give priority to the granted interest, rather than to the reserved interest, until the granted interest if fully satisfied.
Named for the court case Duhig v. Peavey-Moore Lumber Company, the Duhig Rule was the outcome of a disagreement caused by one party either unintentionally or willfully misrepresenting the prior ownership of the mineral rights beneath the land.
Oklahoma ? Generally follows Duhig if a ?Warranty Deed reserves a specific interest without acknowledging prior reservations, then the grantee is made whole at the grantor's expense?. However, if there is mutual mistake, then equity allows reformation of the deed.
The rule gives priority to the granted interest over the reserved interest. For example, let's say that John owns a piece of land and wants to sell a 50% interest to Jane. However, John mistakenly sells a 100% interest to Jane. Later, John tries to sell the remaining 50% interest to Bob.