Has anyone ever heard of a document called a “QuitClaim Deed” which is used in transfering mineral rights.
Dear Mr. Mallory,
A Quit Claim Deed is a very common vehicle for transferring real property interests, mineral or not. In a QCD, the grantor terminates his interest in the property, hence its name, Quit (terminate).
In a QCD, the grantee only receives the interest of the Grantor that he possessed in that instance in time. It is most important for title examination to understand that the Doctrine of After Acquired Title does not apply to QCD.
A QCD is not the same as a deed without warranty.
Additionally a Warranty Deed represents several things, such as ownership of the property, merchantable title and the capacity to convey same, along with recourse if the Grantor breaches the Warranty. A QCD affords the Grantee no such protection.
The granting clause of the QCD has words of conveyance, such as "grants, leases, conveys, sets over, conveys and quit claims..."
Title attorneys don't like them much.
The Grantor loves them. The Grantee takes all the risk of title failure.
This is the same type deed that is sometimes used in home sales. If you are moving a deed from one person's name to another. I used to work for a title company and these are used quite frequently.
Hope that helps,
Lou
Thanks for the information provided in regards to this Quit Claim Deed. I have a friend trying to transfer minerals from the fathers name into hers. She resides in Texas and the minerals are located in West Virginia. Further, she was interested in getting this transfer completed without dealing with an attorney. When she presented this QCD as an option, I was not familiar with this type of document. Any futher information on filing this type of document will be appreciated.
Mr. Mallroy,
I think perhaps you are thinking this is much harder than it really is.
I will say one thing, a lay person trying to transfer title creates lots of title curative for landmen.
Have her make sure that the description is correct, properly prepared, executed and acknowledged and submit it for recordation. Nothing unlike filing any other transfer of property.
If she has ANY doubt whatsoever about what she is doing, advise her to let an attorney prepare the document. Why take a chance on something that could potentially be worth anywhere from thousands to millions of dollars?
Mr. Cotten:
Thanks for your input regarding this matter. I will pass this information to her as she is trying to complete this transfer asap. I did learn that an old well currently exists on the property and the family has been contacted in regards to an additional well possibly being drilled.
Charles S. Mallory
Buddy Cotten said:
Mr. Mallroy,
I think perhaps you are thinking this is much harder than it really is.
I will say one thing, a lay person trying to transfer title creates lots of title curative for landmen.
Have her make sure that the description is correct, properly prepared, executed and acknowledged and submit it for recordation. Nothing unlike filing any other transfer of property.
If she has ANY doubt whatsoever about what she is doing, advise her to let an attorney prepare the document. Why take a chance on something that could potentially be worth anywhere from thousands to millions of dollars?
Best,
Buddy Cotten
www.cottenoilproperties.com
Since West Virginia is a state where property taxes are paid on mineral (OGM type) rights she might also include the description from the latest property tax ticket (from the county). Also where her father received the rights (by deed or by will etc.) citing book and page numbers.
Nancy Mosley
charles s mallory said:
I have a friend trying to transfer minerals from the fathers name into hers. She resides in Texas and the minerals are located in West Virginia.
Nancy:
Thanks for that information. I will forward it to the party involved in this matter.
Nancy Mosley said:
Since West Virginia is a state where property taxes are paid on mineral (OGM type) rights she might also include the description from the latest property tax ticket (from the county). Also where her father received the rights (by deed or by will etc.) citing book and page numbers.
Nancy Mosley
charles s mallory said:I have a friend trying to transfer minerals from the fathers name into hers. She resides in Texas and the minerals are located in West Virginia.
Sure. My wife and I owned an "S corp." whose assets wholly consisted of 320 acres of land in Burke County, ND. We sold the land but before we did, as officers of the corporation, we signed a "Quit Claim Deed" (corporation to joint tenants) that "conveyed" the mineral rights to us. (The deed was drawn up by the attorney for the corporation.) Our next action was to dissolve the corporation. So, now we no longer own the surface land but we do own the mineral rights. That ownership was transferred by the quit claim deed. Hope this helps.
Hal
My family has done QuitClaim Deeds on mineral rights between ourselves to clear up some loose ends between us. The attorney thought it was the easiest way to go and the leasing company accepted it without any problems. That was in Arkansas, but you might want to check carefully if in another state.
Short, sweet and simple. A quit claim deed conveys all right, title and interest “if any” to the grantee, but does not warrant that any interest does in fact exist. If mineral interest exists, it is conveyed. If not, you are conveyed thin air and ther is no recourse as to mineral interest whatsover.
Dear Mr. Cotten,
I am trying to aquire mineral right to land that my great grandfather had sold the land but keep 75% of the mineral rights. Do you think a Quit claim deed would work?
Thanks
Dustin
Buddy Cotten said:
Mr. Mallroy,
I think perhaps you are thinking this is much harder than it really is.
I will say one thing, a lay person trying to transfer title creates lots of title curative for landmen.
Have her make sure that the description is correct, properly prepared, executed and acknowledged and submit it for recordation. Nothing unlike filing any other transfer of property.
If she has ANY doubt whatsoever about what she is doing, advise her to let an attorney prepare the document. Why take a chance on something that could potentially be worth anywhere from thousands to millions of dollars?
Best,
Buddy Cotten
www.cottenoilproperties.com
Pete
The deep was dated 1917 so there is alot of them I think but I don't know how to find them all. Do you have any suggestions about that?
Dustin
Pete Wrench said:
A Quitclaim Deed would work, Dustin, IF you properly identify and locate all of your great-grandfather's living heirs (persons who got an interest or interests through a Will) and heirs-at-law (persons who got an interest or interests through descent and distribution), and had all of THEM sign a QCD. You would probably also have to file an Affidavit of Heirship for any heirs or heirs-at-law who have passed away. Depending upon how far back the mineral reservation, this process could get extremely time consuming.