Fill and Sign the Arkansas Quitclaim Deed 497296343 Form

© 2016 - U.S. Legal Forms, Inc.       ARKANSAS QUITCLAIM DEED FOR OIL, GAS AND MINERALS [Individual to Two Individuals] Control Number: AR-027-77 I. TIPS ON COMPLETING THE FORMS The form(s) in this packet may contain “form fields” created using Microsoft Word or Adobe Acrobat (“.pdf” format). “Form fields” facilitate completion of the forms using your computer. They do not limit your ability to print the form “in blank” and complete with a typewriter or by hand. It is also helpful to be able to see the location of the form fields. Go to the View menu, click on Toolbars, and then select Forms. This will open the Forms toolbar. Look for the button on the Forms toolbar that resembles a shaded letter “a”. Click this button and the form fields will be visible. By clicking on the appropriate form field, you will be able to enter the needed information. In some instances, the form field and the line will disappear after information is entered. In other cases, it will not. The form was created to function in this manner. II. DESIGNATING HOW THE GRANTEES WILL HOLD THE PROPERTY: A. In the state of Arkansas real property can be held by more than one person (concurrent estates) in the following ways: 1. If the Grantees ARE NOT married to each other, they can hold the property as: a. Tenants in Common: a type of concurrent estate in which each party owns an undivided interest in the property that will pass to their heirs when the tenant in common dies. Generally their shares are “equal” but may differ in size. b. Joint Tenants with the Right of Survivorship ( JTWROS) : is a type of concurrent estate in which co-owners have a right of survivorship , meaning that if one owner dies, that owner's interest in the property will pass to the surviving owner or owners by operation of law, and avoiding probate. 2. If the Grantees ARE married to each other, they can hold the property as: a. Tenants in Common – See above b. Joint Tenants with the Right of Survivorship – See above c. Tenants by the Entirety - a type of concurrent estate formerly available only to married couples, where ownership of property is treated as though the couple were a single legal person. Like a JTWROS, the tenancy by the entirety also encompasses a right of survivorship, so if one spouse dies, the entire interest in the property passes to the surviving spouse, without going through probate. 3. In the attached deed, the preparer will need to indicate how the Grantees will hold the property: as Tenants in Common; Joint Tenants with Right of Survivorship; or, Tenants by the Entirety. B. For additional information on the above see the definitions at: http://lawdigest.uslegal.com/ C. For example: “. . . as tenants in common , . . .” OR “. . . as tenants by the entireties , . . .” OR “. . . as joint tenants with the right of survivorship , . . .” II. 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This instrument prepared by: Name:       Street Address:       City, State and Zip:       QUITCLAIM DEED [Oil, Gas and Minerals] KNOW ALL MEN BY THESE PRESENTS THAT: FOR AND IN VALUABLE CONSIDERATION OF TEN DOLLARS ($10.00), and other good and valuable consideration, cash in hand paid, the receipt and sufficiency of which is hereby acknowledged,       , hereinafter referred to as Grantor, does hereby grant, convey and quitclaim unto       and       , hereinafter “Grantees”, as       , all of Grantor’s mineral interest, including but not limited to all oil, gas, carbon dioxide, and all other minerals in, on and under that certain property being situated in the County of       , State of Arkansas, to-wit: See Legal Description Attached as Exhibit A incorporated by reference as though set forth in full Legal Description:       This conveyance covers       net mineral acres. Oil, Gas and Mineral Deed Page 1 of 2 IN WITNESS WHEREOF, the said Grantor, has hereunto executed the above deed on this the       day of       , 20       . Signature       Type or Print Name State of Arkansas , County of       The foregoing instrument was acknowledged before me on       , 20       , by       . NOTARY PUBLIC       Type or Print Name My Commission Expires:       CERTIFICATION RE DOCUMENTARY STAMPS I certify under penalty of false swearing that the legally correct amount of documentary stamps have been placed on this instrument. Signature       Type or Print Name State of Arkansas , County of       The foregoing instrument was acknowledged before me on       , 20       , by       . NOTARY PUBLIC       Type or Print Name My Commission Expires:       Oil, Gas and Mineral Deed Page 2 of 2 EXHIBIT A Grantor:       Grantees:             Legal Description:       Oil, Gas and Mineral Deed Exhibit A