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What are mineral rights?

Land ownership has been a historical dream for many families of all generations. It is one of the greatest ways to establish a place to call home. Many people earn a living on the land they own and raise their families to eventually own the land themselves one day. But there is a difference between the surface land and what’s below.

Along the surface you may own a ranch, a house and cultivate profits from these properties. However, there might be a treasure of wealth and opportunity that exists below the surface of your land. Do you know if you own what’s beneath?

Mineral rights

Mineral rights are the ownership of what’s beneath the surface land. The mineral property found below the land surface may include:

  • Oil
  • Gas
  • Coal
  • Gold
  • Silver
  • Copper
  • Uranium
  • Bentonite
  • Talc

If you are not sure if you have mineral rights, you need to review your property deed. Within your ownership paperwork there may be clarification on your exact ownership of the property. However, sometimes it is not there and you will need to do more research through the county courthouse.

Ownership

It could be the case that you do not have the mineral rights and drilling and excavation may be done by the rightful owners. Or perhaps you have mineral rights but you do not have the ability or the desire to do the work of taking them out of the ground. In such case, you may decide to sell your mineral rights to someone wo will do the work while you remain the landowner above the surface.

Regarding mineral rights, you have many options when you know exactly what you are and are not entitled to regarding your property. It can prove beneficial to discuss the purchase or selling of property and mineral rights with a lawyer before completing any transactions. There is help when deciding which decisions to make for the benefit of your loved ones and future.

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