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LSDefine
Simple English definitions for legal terms
mineral deed
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A quick definition of mineral deed:
A mineral deed is a legal document that transfers ownership of minerals found in or under a piece of land. It is a type of deed, which is a written agreement that conveys property from one person to another. A mineral deed is used when someone wants to sell or transfer their rights to the minerals on their land to someone else. It is important to have a mineral deed to ensure that the new owner has legal ownership of the minerals and can extract them without any legal issues.A more thorough explanation:
Definition: A mineral deed is a legal document that conveys an interest in the minerals found in or under a piece of land. It is a type of deed, which is a written instrument used to transfer ownership of property.
Example: John owns a piece of land that has valuable minerals underneath it. He wants to sell the mineral rights to a mining company. To do this, he creates a mineral deed that transfers ownership of the minerals to the mining company while retaining ownership of the land itself.
This example illustrates how a mineral deed is used to transfer ownership of the minerals found in or under a piece of land while retaining ownership of the land itself.