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© 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 FORMSThe 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 aboveb. Joint Tenants with the Right of Survivorship – See abovec. 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. DISCLAIMERThese materials were developed by U.S. Legal Forms, Inc. based upon statutes and forms for the State of Arkansas. All information and Forms are subject to this Disclaimer: All forms in this package are provided without any warranty, express or implied, as to their legal effect and completeness. Please use at your own risk. If you have a serious legal problem, we suggest that you consult an attorney in your state. U.S. Legal Forms, Inc. does not provide legal advice. The products offered by U.S. Legal Forms (USLF) are not a substitute for the advice of an attorney.THESE MATERIALS ARE PROVIDED “AS IS” WITHOUT ANY EXPRESS OR IMPLIED WARRANTY OF ANY KIND INCLUDING WARRANTIES OF MERCHANTABILITY, NONINFRINGEMENT OF INTELLECTUAL PROPERTY, OR FITNESS FOR ANY PARTICULAR PURPOSE. IN NO EVENT SHALL U.S. LEGAL FORMS, INC. 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Oil, Gas and Mineral DeedPage 1 of 2This 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 DeedPage 2 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 A rk an sa s, 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 A rk an sa s, 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 DeedExhibit A EXHIBIT A Grantor: Grantees: Legal Description: