If you own land in the United States, you may also own the rights to the minerals in the soil below the surface. Unlike most countries, most of the real estate in the US is transferred as a simple asset, meaning that the buyer owns the property both above and below the surface.
If valuable minerals - including oil and natural gas - are or are suspected to be on your property, you can sell or lease those mineral rights to an energy company, while preserving your surface rights.
Collect documents that relate to your property. If you consider selling or leasing your mineral rights, you will need all the documents that show your ownership, including your deed and any active mortgages, leases or easements.
Because mineral rights can be separated from surface rights, it is possible that you have the surface rights to your property, but others have the mineral rights because they have already been sold separately by a previous owner.
The best way to determine if you have mineral rights on your property is to obtain a binding title. [4] If you have already been contacted by a farmer who works for an oil or gas company, he or she has already researched land to find out who owns the mineral rights to your property. [5]
Before entering into negotiations on the sale or lease of your mineral rights, you should take the time to review these documents so that you understand your property better and are more willing to bargain. If there are other family members who own a share in the property, make sure you have talked to them and are all on the same page regarding the sale or lease of the mineral rights. [6]
State of research and local laws on mineral extraction. In most states and many cities and counties, there are laws that control where and how minerals can be mined, and they regulate mining and drilling activities. [7]
The laws that apply to your property, including local zoning restrictions, may affect the value of your mineral rights.
Although laws are similar in most states, small deviations can make a big difference if applied to your specific case. [8th]
In most states, there are also laws that regulate the actions of a mining or drilling company during mining, and require a minimum of surface restoration upon completion of mining. Keep in mind, however, that these minimums may not be consistent with your intended use of the land surface. [9]
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