Montana Agreement Designating Agent to Lease Mineral Interests
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How to fill out Agreement Designating Agent To Lease Mineral Interests?
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FAQ
There are several databases you can use for initial research: County Public Records Websites: Many counties offer online databases, usually run by the county recorder's office or tax assessor's office. These databases often include deeds and may give initial details on mineral ownership.
Call the county treasurer in the county in which the property is located. Provide the clerk with the legal description of the property. The county clerk's office will research the property's ownership and, for a small fee, provide you with a copy of the property deed.
Mineral rights are considered real property in Montana and are bought and sold using the same methods as those used to buy and sell real property. The surface rights to a property, and the mineral rights to a property may be bought and sold seperately from each other.
Conventional Wisdom Says Never Sell After all, simply owning mineral rights costs you nothing. There are no liability risks, and in most cases, taxes are assessed only on properties that are actively producing oil or gas.
In Texas, Oklahoma, Colorado and Montana, mineral owners can own the mineral rights indefinitely and there is no way for them to passively revert to the surface owner. If a surface owner wants to own the mineral rights under their land, they must find and contact the mineral owners and offer to purchase them.
In many states, there is a specific period of inactivity on a piece of land that can cause the mineral rights to expire. As a result of this expiration, the mineral rights ownership reverts to the landowner. This could depend on your location, from 1 year to about 20 years.
Transfer By Will It is also possible to transfer or pass down mineral rights by will. The right to minerals transfers at the time of death to the individuals named as beneficiaries. If no specific beneficiaries to the mineral rights are designated, ownership passes to the property and real estate heir.