New York Release by Surface Owner for Settlement of Surface Damages Resulting from Drilling Operations
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How to fill out Release By Surface Owner For Settlement Of Surface Damages Resulting From Drilling Operations?
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FAQ
After you find oil, you must determine if you are the legal owner of the mineral rights or not. Only then can you know if the oil on the land is yours or not. Traditionally, mineral rights and surface rights were tied to the land, and the original landowner owned both.
Like surface interests, mineral interests are passed down by inheritance. If there is a valid will, it controls who gets the property. If not, Texas laws of heirship controls.
States where minerals (the mineral estate)are often severed from the surface estate include: Texas, Oklahoma, Pennsylvania, Louisiana, Colorado, New Mexico and others where oil and gas has been produced for decades.
75.101. PRESUMPTION OF ABANDONMENT. (a) All mineral proceeds that are held or owing by the holder and that have remained unclaimed by the owner for longer than three years after they became payable or distributable and the owner's underlying right to receive those mineral proceeds are presumed abandoned.
Check the Property Deed: As a landowner in Texas, you can conduct an inspection of the property deed to know if it includes mineral conveyances or reservations. A mineral conveyance indicates that the mineral rights were transferred to you as part of a sale.
