So you are all set to buy a new property. Did you know that you have the right to decide whether you want to include your mineral rights in the purchase? And we strongly recommend doing so. You might also require the services of Mineral Rights Management in this regard.
Be aware of the different kinds of rights in the USA, two of which are surface rights and mineral rights while buying real estate. These rights are crucial for determining the extent to which you can explore, develop, and extract from whatever is on your property. In the case of having no ownership of both these rights, things can become very complicated for you.
Surface Rights Vs. Mineral Rights
Surface rights extend to buildings and lands regarding the extent these can be used for. This right grants you to dig a well and storage things underground. However, having this right doesn’t necessarily imply that you can explore and sell the minerals beneath the surface.
This can be a bit confusing for many landowners. This is why you need to establish your mineral rights too. Mineral rights give you the freedom to own what is underneath your property's ground, including natural resources, such as natural gas, oil, and other minerals.
It is important to know that your mineral rights won’t come into effect until you actually start exploring and digging underneath your property's surface. In the absence of mineral rights, any individual or company holding those rights can access your property within reasons.
Final Thoughts On Land Mineral Rights
If you have purchased property, it might be a good idea to look up the region’s mineral rights record. Different areas are known for comprising various mineral resources. For instance, if your property is in California, there is plenty of Gold. On the other hand, if you reside in the Appalachian region, you will find plenty of coal underneath the surface.
