For all Mineral Rights Releases, the requirements to release rights is as follows:
A draft of the form of Quit Claim Deed utilized by Reinhold to include:
- Grantee’s Name
- Property Address
- Parcel ID Number
- Title Agency Information
- Full Legal Description of Property
A draft copy of the Settlement Agreement – if the sale is an arms-length transaction. An arms-length transaction is between a willing buyer and a willing seller who are unrelated to each other.
Payment – For each parcel, we will verify Reinhold’s ownership and inform you of the payment amount.
How to close – Once Reinhold has received the required documents, we will email to you our approval of the sale. Please then send to Reinhold the completed Quit Claim Deed along with the release fee payment. We then will execute the Deed and return it to you for filing.
**Please note: If there is no current, corresponding sale (within the last 12 months), we will require an appraisal by a certified Appraiser issued within the last six months (documentation from the Property Appraiser’s office is not acceptable). For example, if the current owner is simply clearing the title or the sale is not an arms-length transaction, an appraisal will be required. We will inform you if this is necessary.