West Virginia Correction to Mineral Deed As to Interest Conveyed

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Multi-State
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US-OG-314
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Description

This form is used to when it has been discovered that through a drafting error the (Fraction or Percentage ) interest in the mineral estate conveyed in a Deed was stated incorrectly. It is the purpose of this instrument and the intention of Grantor and Grantee to correct this error, and to accurately state the actual mineral interest intended to be conveyed by the Deed.

West Virginia Correction to Mineral Deed As to Interest Conveyed is a legal document utilized to rectify any errors or omissions made in a previously recorded mineral deed in West Virginia. This correction deed aims to accurately convey the true ownership interest and rights related to mineral properties. The importance of this correction document cannot be overlooked, as it ensures that the recorded information reflects the actual intentions and agreements between parties involved in the mineral transaction. It is essential to address any inaccuracies in the initial mineral deed, such as errors in names, percentage interests, or descriptions of the conveyed interests. Types of West Virginia Correction to Mineral Deed As to Interest Conveyed include: 1. Correcting Errors in Percentage Interests: This type of correction is necessary when the previously recorded mineral deed portrays incorrect or inaccurate division of mineral interests among the involved parties. The correction deed rectifies the percentage interests to reflect the true ownership rights of the mineral rights holders. 2. Rectifying Errors in Names: If there were errors or misspellings in the names of the granters or grantees mentioned in the initial mineral deed, a correction to the mineral deed as to interest conveyed is used to correct these mistakes. This ensures that all parties are accurately identified and documented. 3. Addressing Errors in Legal Descriptions: In cases where the original mineral deed contains errors or discrepancies in the legal descriptions of the mineral interests being conveyed, a correction deed is executed to accurately describe the properties involved. This ensures that the conveyed interests are correctly identified and described. 4. Updating and Supplementing Information: West Virginia Correction to Mineral Deed As to Interest Conveyed can also be used to update or supplement information in the original mineral deed. This could include additional details about the reserved mineral rights, clarification of any ambiguous clauses, or adding any missing information that was inadvertently excluded in the initial document. It is important to consult with a qualified attorney or legal professional experienced in West Virginia mineral rights law to ensure that any corrections to a mineral deed comply with all applicable state regulations and statutes. By filing a West Virginia Correction to Mineral Deed As to Interest Conveyed, parties can ensure that the record accurately reflects their true intentions, preserving the clarity and validity of their mineral ownership interests.

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Transfer By Will It is also possible to transfer or pass down mineral rights by will. The right to minerals transfers at the time of death to the individuals named as beneficiaries. If no specific beneficiaries to the mineral rights are designated, ownership passes to the property and real estate heir.

Mineral interests in WV are taxed the same as your home. You will pay 60% of the appraised value on the minerals at the levy rate for your county. The value of these minerals in based on WV Code procedures and is the same for all counties in WV. Minerals are taxed at a minimum value until production begins.

After confirming your legal ownership with an attorney at law, you need to draw up a deed of transfer form in your name and register it with the county records office as the mineral owner. The land transaction, leasing transaction, and royalty compliance go through the county office.

In the State of WV, minerals are considered property and therefore fall under the Ad Valorem Property Tax.

Whether mineral rights transfer with the property depends on the estate type. If it's a severed estate, surface rights and mineral rights are separate and do not transfer together. However, if it's a unified estate, the land and the mineral rights can be conveyed with the property.

Minerals include gold, silver, coal, oil, and gas. If you want to transfer the rights to these minerals to another party, you can do so in a variety of ways: by deed, will, or lease. Before you transfer mineral rights, you should confirm that you own the rights that you seek to transfer.

In the State of WV, minerals are considered property and therefore fall under the Ad Valorem Property Tax. All real and tangible personal property, with limited exceptions, is subject to property tax.

Mineral rights include everything under the ground with some exceptions like groundwater, sand, and limestone in most cases. These minerals in West Virginia typically include coal, oil and natural gas. Precious metals mining in West Virginia is not prevalent.

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(b) Obvious description errors in a recorded deed, deed of trust, or mortgage purporting to convey or transfer an interest in real property may be corrected by ... When special commissioner may convey title in mineral interest to surface owner; form of deed; final report of special Commissioner; unknown owners; transfer of ...fraction designated in a reservation clause is stated to be a mineral interest in land conveyed by the deed, the fraction is to be calculated upon the ... Jul 6, 2014 — Basically an attorney will go do the same thing that Antero already has done and verify there are no other rightful owners. Then file deed with ... Yes, you own the West Virginia mineral rights to properties wholly when you complete the purchase order form from the owner. In such a case, the land does not ... A mineral deed conveys the rights to subsurface land or profits. Quitclaim Deed. A quitclaim deed conveys whatever interest the grantor has in the property, as ... West Virginia Code § 11-6K.1 requires all natural resource property owners to file a report with our office on or by May 1st (annually). Our website provides a ... by JH Tippit · 1952 · Cited by 8 — Mineral interests are created by reservation and exception or by deed. If a mineral interest is intended, the wording should be such that it conveys the fee ... Apr 27, 2023 — Information about West Virginia deed law, including quitclaim deed form, special warranty deed form, and general warranty deed form. ... Complete this form in 5 minutes or less. Get form. People also ask. Is a royalty interest a mineral interest? A quick overview of the differences between ...

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West Virginia Correction to Mineral Deed As to Interest Conveyed