I have mineral only property in Lea Co. that is currently leased. Anyone know what documents/wording is needed to correctly effect the transfer of a fractional interest to a buyer?
The Mineral Deed from me to the buyer is fairly straight forward, simply deed a fraction of my interest to them. But then, since that new deed will be of record and my old one, do I need to also make a new deed that essentially deeds my remaining (retained) fractional interest from me to myself so then there are now two new deeds showing the new fractional interests to my previous interest?
Also, what type of form is used to transfer a fractional interest in an O & G lease?
I would have a lawyer representing you, review and approve before signing. Many of these deeds are for "any and all" of your interest or some portion and you could possibly be transferring more than you intend.
I may use a lawyer, but I likely feel comfortable enough with the wording in the mineral deed. I'd use the exact same wording as in my deed when I took ownership, just with the smaller interest.