Featured News 2014 What are Mineral Rights?

What are Mineral Rights?

Mineral rights can be a confusing topic, and it is an area of real estate that many property owners are unfamiliar with. If you are a property owner and someone approaches you saying that they are planning to start drilling for oil on your land, surprisingly, that person may have every right to do so. This is because unless you own the minerals underneath your land, you cannot control what is done to it.

In the U.S., mineral rights can be sold or conveyed separately from property rights. This means that just because you own a piece of land, does not mean that you also own the rights to the minerals underneath. Mineral owners have the right to extract and use the minerals that are beneath the surface of that piece of land. They may have the rights to all of the minerals underneath, or a certain portion of them. The most commonly extracted minerals are natural gas, oil, and coal.

Will Extracting My Minerals Be Worth It?

Mineral rights are automatically included as part of the land, unless the ownership gets separated by the owner or seller. Finding out whether or not you own the rights to the minerals under your land can be a costly process. It may not be worth the time and expense that goes into removing the underground minerals, unless the materials underneath prove to be valuable and bountiful.

If your property has not been exposed to any oil drilling, natural gas drilling, coal mining, or other types of mineral extractions, there is a good chance that there aren't much valuable minerals underneath. There is also a good chance that your mineral ownership on your land has not been separated, and that you also own the minerals under your property.

If you have further questions regarding mineral rights or your property, be sure to get in contact with a real estate attorney in your area today!

Related News:

Hollywood Involved in Battle About Zoning Regulations

Zoning can bring on all sorts of complications, especially when two parties don’t agree about their property rights or their boundary lines. Recently, three neighborhoods chose to spark real ...
Read More »

Problems With Buyer Closings

A real estate transaction can be wrapped up in as little as an hour, though most take longer. It can take hours, and some can go on for days. Sometimes, several issues arise, making the process take ...
Read More »

Tips to Increase the Value of Your Home

Deciding to sell your home can be an exciting time of life whether as a single person, or perhaps you and your family. Maybe you finally received that promotion at work and you are ready for an ...
Read More »