Seller Wants To Retain Mineral Rights

Four Things To Know

Mineral rights and how they are applied is a tricky business if you don’t have any background to work with. There are few things to consider when you want to sell a property but keep the mineral rights.

“The ownership of rights to minerals, including oil and gas, contained in a tract of land.”

What are mineral rights and why do they matter?

1. Surface Rights 2. Mineral Rights 3. Royalty Rights 4. Oil & Gas Rights

Types of Mineral Rights

McLinden explained that the buyer might not agree to the retainment. A loophole – for lack of a better phrase – is to transfer the mineral rights to someone else (a family member, for example) before you sell.

The issue of excluding mineral rights in sale agreements

Keep in mind that state law differs from one state to another; you will have to make sure that the law in your state does not have specific restrictions regarding transactions of mineral rights.

How to retain your mineral rights