How Do I Purchase the Mineral Rights to My Property?
Mineral rights refer to what is below the surface of a property. Owning the mineral rights is separate from owning the property. To see whether you own the mineral rights for your property, check the land survey or deed. If you are having trouble finding the information regarding the mineral rights for a property, call the clerk's or assessor's office in the county where the property is located. The ownership of mineral rights, like property ownership, is public information available to anyone.
Instructions
-
-
1
Call the county clerk's office to find out who owns the mineral rights for the property you are buying or have bought. The county clerk's office will be able to tell you whether the mineral rights were purchased with the property or are owned by another party. Mineral rights refer to the ownership of minerals, rocks, gas or oil below the surface of a piece of property.
-
2
Check your state's guidelines for what the definition of a mineral is. Each state has different definitions for minerals and how they should be mined.
-
-
3
Make an offer to the current owner of the mineral rights of the property if it is not included in the sale of the land.
-
4
Hire a lawyer to help draw up a mineral rights agreement. This will state the terms both parties have agreed to regarding the access, maintenance and mining of the resources from the land. A lawyer should be used to aid in drawing up a contract, with the approval of both parties, to protect both the buyer and the seller in the sale of the mineral rights and clarify all of the details involved.
-
5
Sign the agreement with the seller and have the agreement notarized.
-
1
References
Resources
- Photo Credit land for sale image by RICO from Fotolia.com