Oil & Gas Deed and Transfer Documents Explained
Joint Tenant Deed
Transfers the undivided and equal co-ownership to two or more people. Upon the death of the first owner, that share
automatically transfers to the remaining owner(s) in joint tenancy.
Life Estate Deed
Transfers the right to receive revenues generated from oil and gas production and lease bonuses to the grantee as long
as the grantee is living. The right to receive revenues reverts back to the grantor once the grantee dies. A life estate deed
is commonly used when an owner wants to transfer oil assets out of an estate, but wants to continue to receive the
revenues generated from the oil royalties during his lifetime.
Transfers ownership of the royalty interest including the right to execute leases and receive bonus payments.
Quit Claim Deed
Transfers any mineral, royalty or overriding royalty owned as a means of conveyance with no warranty of title. (Also called
quitclaim deed, quick claim deed and quick claim deed.)
Transfers ownership of the royalty interest only and not the right to execute leases and receive bonus payments.