Minerals such as coal, natural gas, and oil are beneath the surface of the ground. Property owners generally own these minerals unless they have been sold previously. There are a few ways they can be separated from the property.
When are Mineral Rights Separate from the Property?
If the owner sells the mineral rights to someone or if they sell the property and retain the rights to the minerals, then they are no longer a part of the property, regardless of how many times it changes hands. The deed to the property would include a statement saying that the seller is retaining the mineral rights. If they sell the mineral rights separate from the property, a mineral deed is given to the person purchasing the property. The property can also be sold to one person and the mineral rights to another. Since deeds do not have to state that the mineral rights are not included with the land, it is possible that you only own the land and not the minerals. The only way to be certain is to hire someone, typically an attorney, to trace the deed to your property back to the original one to see if the mineral rights have been sold.
Why Sell Mineral Rights?
Depending on the area where you live, mineral rights could be valuable. If you live where drilling for oil or natural gas is common, you could receive a significant amount of money for your mineral rights. They can be sold for a lump sum or you can receive royalties from the minerals. If you are considering selling mineral rights Texas, one example of a company that purchases them is Endeavor Acquisitions, LLC. If you lease the mineral rights to someone who wants to develop the minerals, you can receive royalties. The person developing the minerals will receive the largest portion of income from them because they assume all costs of the development.
Coal, oil, and natural gas are minerals that are the most desirable for extracting. There are other minerals such as silver and gold that are mined. Ores are also mined and can include limestone, coal, gemstones, chalk, and metals. In some instances mineral rights can include surface minerals such as gravel.
Mining has a history that can be traced back thousands of years. The first items mined were stones and metals used for making tools and weapons.