Washington Term Mineral Deed of Undivided Interest
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How to fill out Term Mineral Deed Of Undivided Interest?
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FAQ
UDS or Undivided Share of Land in the context of real estate refers to a portion of a property that is collectively owned by multiple individuals or entities, without being physically divided into separate plots.
Mineral Interest (MI) When the mineral rights are conveyed to another person or entity, they are ?severed? from the land, and a separate chain of title begins. When a person owns less than 100% of the minerals, they are said to own a fractional or undivided mineral interest.
Unlike divided co-ownership, undivided co-ownership is not physically separated into separate private and common portions. If you decide to purchase this type of property, you will be acquiring a percentage of an entire building.
The undivided interest is not separated into parts or shares. Thus, no individual co-owner has exclusive rights to any specific portion of the property. For example, if four persons own under an undivided interest 10 acres of land, each individual owner would have a 25% undivided interest in the entire 10 acres.
Joint tenancy is a type of joint ownership of property in the field of property law, where each owner has an undivided interest in the property. This type of ownership creates a right of survivorship, which means that when one owner dies, the other owners absorb the deceased owner's interest.
An undivided interest subdivision is a subdivision where owners share undivided interests in the entire parcel of land, and have a non-exclusive right to use the property. An example would be a recreational vehicle park.
