Basic Information About Mineral Rights

Mineral rights refer to the rights a land owner has, that allows him or her to exploit the natural resources in his or her land. Therefore, the owner of the land that contains minerals such as metal ores, oil, coal, gold, silver and many more, is entitled to enjoy the minerals found underneath the land. Hence, the mineral rights give possession of these treasures to the land owner. Surface rights on the hand, refers to the rights a person acquires in the event of an agreement between him/her, and the mineral rights owner to share the same property. It is advisable that in mineral rich places, property transactions should consider the worth of mineral rights

 

There are several components of a mineral right.

1 .The owner has the right to receive royalties.

2. The owner has the right to receive bonus consideration.

3. The owner of the land has the right to strip down the surface of the earth, in order to access the minerals.

4. The owner of has the right to shift rights.

It is very important to seek professional advice before engaging in mineral rights and leasing transactions. This is because of the complexity of the lease transactions and the large amounts of money involved. Professional advice also helps to prevent unforeseen events that may arise. One good example is a dispute between the mineral rights owner and the surface rights owner.  Sell Gas Rights

 

Mineral rights purchases.

Mineral rights purchases are complex in nature. When one purchases the mineral rights of a given place, the person and future mineral rights owners are entitled to utilize the property. Companies buying mineral rights ensure that they purchase the surface rights, in order for them to fully operate without hindrance from the surface properties. Sell Oil Rights

 

Mineral royalties.

In the event a company produces minerals from a leased property, royalty payment is paid to the owner of the land. The amount of the royalty payment is normally stated in the lease contract to protect the property owner. Selling Mineral Rights