We shall discuss the subject of wealth in minerals. Let’s first all look at minerals, mineral rights and surface rights. Let’s discuss the relationship between these two rights and how these rights are connected. We shall then look at the benefits of mineral rights and see mineral rights royalties a little closer.
Property owners in the US stand to gain large sums of money if their property is in a mineral rich area. The term mineral encompasses fossil fuels, metals and their ores, non-metals like gypsum, even marl, peat, sand, rocks and rubble are all included. The property rights are divided into two in the US. The surface rights are automatically yours when you buy a property. The mineral rights could be with the surface rights or could have been “severed” in which case you could own the surface rights but not the mineral rights. The mineral rights might have been sold or leased to another party by the person from whom you bought your house or he could be holding on to the mineral rights for the right party to come along.
Let’s now assume that you own both the surface and mineral rights. If there are minerals in your property a company could come along and ask you to sign a lease for transferring your mineral rights for a term. For signing this lease you are entitled to a lease bonus and mineral rights royalties. These royalties are expressed as a percentage of the production value. So higher the production of minerals the greater is the wealth you generate from your property. Of course you will be signing only for selected minerals and not all. You could sign for say oil and gas but hold on to coal or peat or any of the metals and their ores.
Mineral rights and royalties are of great benefit to the property owner who enjoys mineral rights in a mineral rich area. You should be fully conversant with your state laws on the subject and obtain consultancy from an attorney dealing with mineral rights who will guide you further in the subject.
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