What do I need to know about mineral rights?
The most important point to understand about mineral rights is this: If the sellers owns any mineral rights they automatically transfer to the buyer unless they are reserved and held by the seller. The value and existence of mineral rights is not easily determined.
Realtors®, Appraisers and Title Company’s do not provide information regarding the ownership of mineral rights and associated terms and leases. Sometimes the seller has this information. If the seller does not know they are often directed to hire a “Land Man” to research mineral rights. Title commitments do not include information about mineral rights. In most situations, the transference of mineral rights is negotiated in the terms of the sales contract.
That being said, most sellers that have valuable mineral rights know they do. Either they have been approached by a Land Man, the HOA has been approach or a neighbor made then aware. Our mineral rights contract addendum make it easy to retain those rights if the seller desires to keep them.
We help you understand the right questions to ask regarding mineral rights, contract addendum’s, and what to do about mineral rights.
Notice: This website contains general information about possible legal and financial matters. The information is not advice, and should not be treated as such. You must not rely on the information on this website as an alternative to legal or financial advice from your attorney, accountant or other professional legal services provider. If you have any specific questions about any legal and financial matter you should consult your attorney, accountant or other professional legal services