West Virginia Reservation of Additional Interests in Production

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Multi-State
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US-OG-819
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Description

This lease rider form may be used when you are involved in a lease transaction, and have made the decision to utilize the form of Oil and Gas Lease presented to you by the Lessee, and you want to include additional provisions to that Lease form to address specific concerns you may have, or place limitations on the rights granted the Lessee in the “standard” lease form.

The West Virginia Reservation of Additional Interests in Production is a legal provision that allows landowners in West Virginia to retain certain rights and interests in their property even after leasing it for oil, gas, or mineral production. This reservation provides specific protections and privileges to landowners, ensuring they maintain control over certain aspects of the production process and receive compensation for the extraction of natural resources. Under the West Virginia Reservation of Additional Interests in Production, landowners reserve the right to be involved in decisions regarding the production activities on their property. They have the authority to negotiate and influence matters such as the location of drilling sites, access routes, and the overall management of mining or drilling operations. This enables landowners to safeguard their property and minimize potential disruptions caused by resource extraction. Additionally, the reservation enables landowners to retain a share of the production proceeds. They are entitled to a percentage of the value of the oil, gas, or minerals extracted from their land. This provision ensures that landowners receive fair compensation for the use of their property's resources. There are different types of West Virginia Reservation of Additional Interests in Production, each focusing on specific aspects of resource extraction. Some common variations include: 1. Surface Use Reservation: This type of reservation grants landowners control over the surface use of their property during production activities. It allows them to regulate the location of wells, pipelines, access roads, and other infrastructure connected to resource extraction. 2. Royalty Interest Reservation: With this reservation, landowners retain a share of the production's financial value. They receive a percentage of the proceeds from the sale of the extracted resources, allowing them to benefit financially from the use of their property. 3. The Best Management Practices Reservation: This reservation ensures that landowners have a say in the application of the best management practices during resource extraction. It enables them to protect the environment, set protocols for waste disposal, and minimize the impact on natural resources such as water, wildlife, and vegetation. 4. Reclamation Reservation: This type of reservation empowers landowners to dictate reclamation efforts after resource extraction is complete. It allows them to establish guidelines and requirements for the restoration of the land to its original condition, ensuring long-term environmental sustainability. In conclusion, the West Virginia Reservation of Additional Interests in Production provides crucial protections and benefits to landowners in the state. It grants them control over various aspects of resource extraction, secures fair compensation, and enables them to safeguard their property and the environment.

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West Virginia Code §11-22-1, provides for exemptions to paying the Transfer Tax Fee. Deeds must specifically state the reason for exemption, otherwise, the Transfer Tax Fee will be charged. Every Deed recorded requires a completed Sales Listing Form to be attached. The Sales Listing Form can be found here.

Declaration of Consideration of Value (This is the monetary amount for which the property is sold. If the property is being transferred without monetary value, it must state in the declaration paragraph 'why' it is exempt from transfer tax.)

The state hereafter shall, whenever it is an owner of an undivided interest in any land or real estate, together with other persons, become a party plaintiff in any proceedings by any person entitled to demand partition under the first sentence of this section.

Desertion of leased property; entry; recovery of rent, disposition of abandoned personal property; notice.

§37B-1-4. Lawful use and development by cotenants; election of interests; reporting and remitting of interests of unknown or unlocatable cotenants; establishment of terms and provisions for development; and merging of surface and oil and gas.

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-- This rule provides the methodology the State Tax Commissioner shall use to determine the appraised value of producing and reserve oil and natural gas. If there have been no changes since your prior year filing, you may file the form Letter of No Change for Reserve Mineral Properties. Both documents you may ...by TF McCoy · 1964 — The grant or reservation of a mineral interest or a royalty interest is dependent, now, on the particular incidents of ownership conveyed or withheld rather. Oil-producing property includes the interest or interests underlying an area of up to forty acres of surface per well with one or more active wells on the ... -- The appraised value of abandoned well acreage shall revert to the value of reserve oil and gas acreage in the county provided there is no other producing or ... Aug 24, 2020 — TAX LIEN SALES IN WEST VIRGINIA. West Virginia's counties strictly abide by the statutory code outlined in W. Va. Tyler County, WV oil & gas discussion group. Share your experience regarding lease bonus, royalty rates, drilling activity, and oil & gas news. Lawful use and development by cotenants; election of interests; reporting and remitting of interests of unknown or unlocatable cotenants; establishment of terms ... Jan 11, 2021 — The appeals have been filed primarily by companies that produce natural gas from horizontal wells, predominantly in the Marcellus Shale region. Unlocatable interest owner as a production royalty, including any bonus or rental payments. It is this reservation of payments that ultimately triggers the ...

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West Virginia Reservation of Additional Interests in Production