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Mineral Owner's Subordination (of Rights to Make Use of Surface...

Tarrant Texas Mineral Owner's Subordination (of Rights to Make Use of Surface Estate)

Name: Tarrant Texas Mineral Owner's Subordination (of Rights to Make Use of Surface Estate)
Brand: US Legal Forms
Rating: 4.88 (240 reviews)

Category:

Oil Gas and Minerals - Agreements

State:

Multi-State

County:

Tarrant

Control #:

US-OG-1046

Format:

Instant download

Description

This form is a mineral owner's subordination of rights to make use of surface estate.

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FAQ

Mineral rights don't come into effect until you begin to dig below the surface of the property. But the bottom line is: if you do not have the mineral rights to a parcel of land, then you do not have the legal ability to explore, extract, or sell the naturally occurring deposits below.

As a general rule of thumb, the value for non-producing mineral rights will nearly always be less than $1,000/acre. In most cases, the mineral rights value in Texas for non-producing minerals will be $0 to $250, but producing minerals $25,000+ per acre is not unusual.

Usually, the owner of the surface estate owns the mineral rights under the property. However, under Texas law, those rights can be sold or leased to another party. Therefore, it is important to have clarity on who has the rights to the minerals below the surface.

In states with split ownership laws, land can be sold to only include surface rights. This means that if oil or gas is present under the soil, the landowner will have no legal rights to them.

Because the minerals are considered part of the real estate in Texas, a seller under a contract that fails to mention minerals would have a contractual requirement to convey the entire real estate, including the surface and all minerals, to the buyer.

Landowners commonly sever and sell their mineral rights, often to big oil and gas exploration companies. The most common way of claiming mineral rights today is by buying them at auction or through private sales .

Mineral Lessee's Implied Right to Use the Surface Estate Under Texas law, this right allows that oil company to use as much of the surface estate as is reasonably necessary for mineral exploration and production. This right is implied in the mineral lease and requires no permission or consent from the surface owner.

(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.

Mineral rights in Texas are the rights to mineral deposits that exist under the surface of a parcel of property. This right normally belongs to the owner of the surface estate; however, in Texas those rights can be transferred through sale or lease to a second party.

If you own surface rights, you are allowed to sell or transfer title to the land surface, but you may not sell or lease your property to an oil, gas, or mining company for exploration or extraction. Those rights do not legally belong to you.

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Tarrant Texas Mineral Owner's Subordination (of Rights to Make Use of Surface Estate)

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