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Did you know that when you own property, you also own the mineral and surface rights to that property? This means that you have the right to extract any minerals or use the surface of your land in any way you see fit. It is important to understand these rights, especially if you are thinking about selling or leasing your property. Here is what you need to know about mineral and surface rights on your property.
What Mineral Rights Are and Why They Matter
Most people are familiar with the concept of owning property, but fewer are aware of the concept of owning mineral rights. Essentially, mineral rights refer to the legal right to exploit any minerals that may be present on a piece of land. In many cases, these rights are sold separately from the land itself, and they can be valuable assets. There are numerous reasons why someone might want to own mineral rights. For example, they could be hoping to strike it rich by finding oil or gold on their property. Alternatively, they may simply want to ensure that they have the right to use any minerals that are present for personal or commercial purposes.
Either way, it is important to be aware of the concept of mineral rights before buying or selling property. Otherwise, you could unexpectedly find yourself without the right to use any valuable resources that happen to be present on your land.
What You Can Do If You Don’t Own the Mineral Rights to Your Property
If you do not own the mineral rights to your property, there are several things you can do. First, you can negotiate with the owner of the rights for a lease or surface use agreement. This will give you the right to use the minerals on your property for a specific purpose, such as mining or drilling.
You can also file a protest with your state’s oil and gas commission. This gives you the opportunity to present your case to the commission and potentially block any future development of the minerals on your property.
Finally, you can…
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