LandInvestors.com Forums **Ask A Question** Titling a deed

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  • #4325

    Luke Smith
    Moderator
    Post count: 1263

    Got this buyer who wants to title the land to his 10 kids. I think he is crazy but want his money and want to help at the same time.

    How would you guys title land to a bunch of siblings? Name then %. for ten kids each gets 10%?

    None of them are married yet or have kids of their own yet.

    Sounds like a disaster to me. Should they at least do With Rights of Survivorship? That would save a pile of probate ppwk. Tell them to change it when the kids start to have their own kids.

    Any better ideas?

Viewing 5 replies - 1 through 5 (of 5 total)
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  • Kevin Rhatigan
    Participant
    Post count: 107
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    @luketsmith
    @claire
    @stevenbutala
    @jilldewit
    @mikedugan

    Hi All!

    I am buying one today…my first parcel with TREES!!!

    The vesting deed has some language I am not sure about, see below regarding mineral rights and a 15′ easement. Should I just copy what is on the current deed?

    “and reserves to Grantor, its successors and assigns:

    1) An undivided 50% interest in and to all oil, gas, and other mineral rights, with no right of entry on the part of the Grantor without the Grantee’s consent; and

    2) An easement and right of way 15 feet in width along all boundaries of said property with right of entry upon over, under, along and across and through said easement and right of way for purpose of erecting , constructing, operating, repairing and maintaining pole lines with cross arms for the transmission of electrical energy, and for telephone lines and/or for installing, repairing, operating and renewing any pipeline or lines for water, gas, oil, or sewage and any conduits for electric or telephone wires.”

    Luke Smith
    Moderator
    Post count: 1263
    ProAdvanced

    The reserves to Grantor part is a one time thing, now you should drop it or say it is reserved by (Enter Grantors name who reserved it and date of the old deed) they might of sold those rights off or still own them.

    That would be the nice thing to do for others to be able to research this stuff in the future. It is a lot easier to just drop all that stuff and leave it up to the buyer or owner to research those things.

    It is open for your interpretation. I don’t think there is a set way this has to be.

    Luke Smith
    Moderator
    Post count: 1263
    ProAdvanced

    @kevinrhatigan
    Kevin sent me a copy of the deed. After reading it I think I would just cut and paste the whole legal part into the new deed. I like to use screenshot and just circle the part I want. Insert that picture into the new deed. Don’t have to type that way. My spelling is so bad I would mess it up.

    Kevin Rhatigan
    Participant
    Post count: 107
    Pro

    Anyone have any thoughts on whether I need to include the name of the previous grantor at the top of those two paragraphs? Previous Grantor was Sangre De Cristo Ranches who sold it to the individual from whom I am buying it.

    If yes, any thoughts on the right way to phrase this?

    Aaron
    Participant
    Post count: 96
    Pro

    I am searching for the same answers…My buyer wants to keep mineral rights

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