This means that although you own the surface of your land, someone else could own the minerals beneath the surface. Furthermore, some minerals could have been sold while a prior owner retained others. Accordingly, when you purchased the land, you might not have been deeded all of the mineral rights. Get your deed.

What do you need to know about mineral rights?

Fee simple is the most basic type of ownership. The owner controls the surface, the subsurface and the air above a property. The owner also has the freedom to sell, lease, gift or bequest these rights individually or entirely to others. What Qualifies as a Mineral?

How are mineral rights transferred from one person to another?

Mineral rights are legal rights to any mineral on a piece of land. Minerals include gold, silver, coal, oil, and gas. If you want to transfer the rights to these minerals to another party, you can do so in a variety of ways: by deed, will, or lease.

Who is entitled to minerals under fee simple title?

Fee simple title, however, can be carved up. Whoever owned the land in fee simple before you could have sold the subsurface rights to the land. This means that although you own the surface of your land, someone else could own the minerals beneath the surface. Furthermore,…

How are mineral rights passed down from generation to generation?

The holders of mineral rights on a property can also lease, sell, and bequeath them as gifts. This way, they will pass them down from generation to generation, independent of changes in ownership of the attached property.

What happens to your mineral rights after death?

After your death, the rights will pass to the beneficiaries listed in the will. If no specific beneficiary is listed, then the mineral rights will pass to whoever is named the beneficiary of your residuary estate. To draft a codicil to your will, see Write a Codicil.

How are mineral rights transferred in a lease?

Transfer with a lease. If you want to lease mineral rights to a third party, then you will need to create a contract. With the lease, you as the owner grant to the lessee the right to develop and produce minerals on the parcel of land that is leased. [6] Leases typically include a “bonus” paid by the lessee to the owner when the lease is signed.