Fill and Sign the Oklahoma Deed Form Contract

© 2016 - U.S. Legal Forms, Inc.       OKLAHOMA QUITCLAIM MINERAL DEED [Two (2) Individuals to Two (2) Individuals] Control Number: OK-035-77 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 Oklahoma 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 with five Grantees, the preparer will need to indicate how the Grantees will hold the property: as Tenants in Common or Joint Tenants with Right of Survivorship. B. For additional information on the above see the definitions at: http://lawdigest.uslegal.com/ C. For example: “. . . as Tenants in Common ” III. DISCLAIMER These materials were developed by U.S. Legal Forms, Inc. based upon statutes and forms for the State of Oklahoma. 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. OR ITS AGENTS OR OFFICERS BE LIABLE FOR ANY DAMAGES WHATSOEVER (INCLUDING WITHOUT LIMITATION DAMAGES FOR LOSS OR PROFITS, BUSINESS INTERRUPTION, LOSS OF INFORMATION) ARISING OUT OF THE USE OF OR INABILITY TO USE THE MATERIALS, EVEN IF U.S. LEGAL FORMS, INC. HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. Prepared by:       After Recording, Return to:                         QUITCLAIM MINERAL DEED [Two Individuals to Two Individuals] KNOW ALL MEN BY THESE PRESENTS: GRANTORS:       and       , in consideration of the sum of TEN & NO/100 ($10.00) dollars, and other valuable considerations, in hand paid, the receipt of which is hereby acknowledged, do hereby quitclaim, bargain, sell and convey unto GRANTEES:       and       , as tenants in common , all of Grantor’s right, title and interest in and to all of the oil, gas and other minerals in and under and that may be produced from the following described lands situated in       County, State of Oklahoma, to-wit: See Legal Description Attached as Exhibit A and incorporated by reference as though set forth in full Legal Description:       together with the right of ingress and egress at all times for the purpose of mining, drilling, exploring, operating and developing said lands for oil, gas and other minerals, and storing, handling, transporting and marketing the same therefrom with the right to remove from said land all of Grantee’s property and improvements. This transfer is made subject to any rights now existing to any lessee or assigns under any valid and subsisting Oil and Gas Lease of record heretofore executed; it being understood and agreed that said Grantees shall have, receive and enjoy the herein granted undivided interest in and to all bonuses, rents, royalties and other benefits which may accrue under the terms of said lease insofar as it covers the above described land from and after the date hereof, precisely as if Quitclaim Mineral Deed Page 1 of 2 the Grantees herein had been at the date of the making of said lease the owner of a similar undivided interest in and to the lands described and Grantees one of the Lessors therein. TO HAVE AND TO HOLD the above described premises unto Grantees, their successors and assigns, forever, free, clear and discharged of and from all former grants, charges, taxes, judgments, mortgages, and any other liens or encumbrances of whatsoever nature subject, however, to easements, restrictions, mineral reservations, mineral conveyances and rights of way of record. IN WITNESS WHEREOF, the Grantors have executed this Quitclaim Deed on the day and year set forth below. Date:       Date:       Grantor’s Signature Grantor’s Signature             Print or Type Name Print or Type Name STATE OF OKLAHOMA , COUNTY OF       The foregoing instrument was acknowledged before me this       day of       ,       , by       . Notary Public [SEAL]       Print or Type Name My commission expires:       STATE OF OKLAHOMA , COUNTY OF       The foregoing instrument was acknowledged before me this       day of       ,       , by       . Notary Public [SEAL]       Print or Type Name My commission expires:       Quitclaim Mineral Deed Page 2 of 2 Quitclaim Mineral Deed Page 3 of 2 EXHIBIT A Grantors:             Grantees:             Legal Description:       Quitclaim Mineral Deed Exhibit A