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The best way to determine who owns the mineral rights on a piece of land is to visit the courthouse and find the legal record of your property or your deed. You can also consult your local tax office, or depending on your community, you may be able to search for your title online.
Although they can be bought outright, more commonly, interests are sold in the form of royalties, leases, or production payments. Auction. Auctions sell mineral rights for both producing and non-producing properties. ... Government Auctions. ... Brokers. ... Private Placement. ... Negotiated Sale. ... Tax Sales. ... Direct From Mineral Owners.
Mineral rights are ownership rights that allow the owner the right to exploit minerals from underneath a property. The rights refer to solid and liquid minerals, such as gold and oil. Mineral rights can be separate from surface rights and are not always possessed by the property owner.
There are 57 million acres of land in the U.S. where the federal government owns oil, gas, coal, and other minerals below the surface. Another party, mostly citizens or corporations, owns the surface land above. Land and mineral ownership can become quite complicated.
If you are a landowner who leases the mineral rights to your property, the company that leases your minerals will typically agree to pay you a percentage of the profits they make from selling the oil and gas collected from the development of your mineral interest.
377.371 Pollution prohibited; reporting, liability. 377.38 Illegal oil, gas, and other products; sale, purchase, acquisition, transportation, refining, processing, or handling prohibited. 377.39 Seizure and sale of illegal oil, gas, or product. 377.40 Negligently permitting gas and oil to go wild or out of control.
A mineral lease is a contractual agreement between the owner of a mineral estate (known as the lessor), and another party such as an oil and gas company (the lessee). The lease gives an oil or gas company the right to explore for and develop the oil and gas deposits in the area described in the lease.
Check your current ownership documents: title, deed and purchase agreement. One of these may spell out ownership of mineral rights. If not, contact the property appraiser's office in your county or check online databases at the county clerk's office for sales records, but they are incomplete.