real estate


Question by  magik (63)

What are mineral rights?

I am really confused about some legal documents I have concerning my mineral rights for my land, can you help me out with this?


Answer by  John (9008)

Mineral rights are the rights to any minerals lying within the land. Most commonly, this refers to oil, but it could mean other commodities. The person (or company) that owns the mineral rights does not own the land, but has the exclusive right to mine it from the land and sell it without having to give the landowner anything further.


Answer by  Gabriel (2146)

You should really go to an attorney to go over the exact wording of the document, you really don't want to get confused on it. For most property contracts, the surface property is sold, but mineral rights are retained by the original owner. Your contract will specify, but it may take some research to know for certain.


Answer by  Kurt (4579)

A legal document about mineral rights for your land usually gives the other party the right to exploit your land for oil or gas.

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