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.
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Interesting Questions
To file a Royalty Deed, you usually take it to the county recorder's office. They’ll make sure it’s publicly available and legally binding, so it’s all legit!
Using a Royalty Deed can help you tap into potential profits from mineral extraction without having to sell the land itself. It’s a clever way to keep ownership while cashing in!
Typically, a Royalty Deed can't be easily revoked once it's signed and recorded. It’s like sealing a deal - it sticks unless all parties agree otherwise.
Make sure to include the names of the parties involved, a clear description of the property, the rights being transferred, and any conditions or limitations you want to set.
It’s not a must, but having a lawyer can help make sure everything is above board and in your best interest - better safe than sorry!
While a regular deed transfers ownership of the surface and sometimes the land, a Royalty Deed is focused on the rights to extract resources below the surface, like oil or minerals.
A Royalty Deed is a special type of deed used to transfer mineral rights or interests in property. Think of it as passing on the keys to underground treasures!