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:

Benefits for Veteran & Military Home Buyers

It's been a longstanding tradition for veterans and active duty service members to buy their own homes, but military service can take a financial toll, making it difficult for service members to ...
Read More »

When Do You Need a Building Permit?

If you want to build an addition, pull off a remodeling project, or if you have found out that such building projects have already been done on your property without a permit, do you need to go get a ...
Read More »

What is Inverse Condemnation?

Inverse condemnation occurs when a public project, such as road building or fracking, causes property damage to a privately owned location without payment of just compensation. Also, if the public ...
Read More »