Hi Math question,
It is my understanding that a royalty deed is a quantitative legal document where all the words and phrases are used to make an equation.
My question, how would the equation be put together with the words "a royalty interest of percent of all " . I know what I think I just want others opinions. Carl
a = ___ , royalty interest =____ , of =_____ , percent =____ , and all =____ (y*%)*A ?
Transfer, set over and convey unto grantee a royalty interest equal to 1/32 of 8/8ths of production in, under and that may be produced from blackacre."
Transfer, set over and convey unto grantee a royalty interest equal to 1/4 th of the royalty provided for in any oil, gas and mineral lease covering blackacre."
Transfer, set over and convey unto grantee an undivided 1/2 of the royalty, out of grantor's 1/2 royalty interest in blackacre."
Reserve, as a non-participating royalty interest, an undivided 1/8th royalty interest in the lands described herein.
Reserve, as a non-participating royalty interest, an undivided 1/8th royalty interest in the lands conveyed herein.
All have different interpretations and results. Need to see a real pro on these items.
Best
Buddy CottenThank you for the reply, in the deed I am reading there is no equal to words or undivided only granted a royalty interest of .025 percent of all production in described lands.
the royalty for the lease is 1/5th. .
granter has 1/2 of all minerals.
In math word problems, a means something dividable, interest means numeral factor of something royalty is the something, of means to multiply, % means that number to be multiplied and all means 100%, ,,
I was just hoping for a math/legal wiz or two to give their equations.
Reading ONLY what you have said, you have .025% non-participating royalty in the lands (decimal interest .00025) The full and complete document will help determine if the reservation was of the whole, or reduced to grantor's interest.
Buddy Cotten
Thank you for the reply, in the deed I am reading there is no equal to words or undivided only granted a royalty interest of .025 percent of all production in described lands.
the royalty for the lease is 1/5th. .
granter has 1/2 of all minerals.
In math word problems, a means something dividable, interest means numeral factor of something royalty is the something, of means to multiply, % means that number to be multiplied and all means 100%, ,,
I was just hoping for a math/legal wiz or two to give their equations.
For the percent, I meant 2.5percent which would be .025. I am wondering though why the "royalty interest" or "of" is not in play. (RI X .025) or since the grantor only has 1/2 of the royalties on the lease than' a' or divide / RI of .025 by 1/2.
I know it is either way. So my equations are: 1. (1/5 X .025)X(100% prod.)
or Grantor has 1/2 of .20 RI so thus grantee so can only grant 1/2 of the RI lease amount.
2. (1/2 X .025)X(100% prod) It is the word "OF" that is significant here. Which says RI does modify the percent by multiplying.
The rest of the document is pretty standard and only states how many acres the mineral holding is on. It is not the case or the intent of the grantor to grant a straight fractional amount. That would not make sense. What if they only had 1/10th minerals. That would make Grantor has only .02. not enough to grant .025 from.
It is just those words stated above that make the equation. Any thoughts. Carl