Buying Land Without Mineral Rights
Mineral rights are a hot topic in the world of real estate. When you buy land, you also buy the mineral rights to that land. This means you have the right to extract all resources from the land, including oil, gas, and coal. However, in some cases, people sell their land without selling the mineral rights.; that’s why it’s important to understand what that entails.
In this blog post, we’ll discuss the difference between mineral rights and surface rights and some things to keep in mind when buying land without mineral rights. Read on to learn more.
The Difference Between Mineral Rights and Surface Rights
Mineral rights are the rights to extract resources from the land; this includes oil, gas, and coal. When you own mineral rights, you have the right to extract these minerals and sell them.
Surface rights, on the other hand, are the rights to use the land’s surface; including building a house or a road. If you own surface rights, you can use the land for these purposes but can’t extract resources from it.
4 Things To Consider When Buying Land Without Mineral Rights
When you buy land without mineral rights, you should keep a few things in mind. Here are 4 things to consider:
N°1 Mineral and Surface Rights Can Both Have Co-Ownership
Just because one person owns the surface rights to a piece of land doesn’t mean they own the mineral rights. Mineral and surface rights can both have co-ownership. This happens when the surface rights owner wants to keep a portion of the mineral rights. To do this, they only sell off a percentage of their mineral rights.
N°2 Mineral Rights Can Be Bought, Leased, and Sold
Mineral rights can be bought, leased, and sold similarly to any other piece of property. They can be separated from surface rights and sold separately from each other. When this happens, a property owner has the option to purchase or sell only surface rights while keeping mineral rights for themselves.
N°3 Your Property Isn’t Worthless Without Mineral Rights
Just because you don’t own the mineral rights to your land doesn’t mean your property is worthless. Mineral rights are only valuable if there are minerals on your land that can be extracted and sold.
N°4 You Can Profit From Mineral Rights In Several Ways
There are several ways you can profit from mineral rights. One way is to sell the mineral rights to your land. Another way is to lease the mineral rights to a mining company. If you decide to do this, negotiate a good lease rate. You can also keep the mineral rights and extract the minerals yourself.
Blue Flame Minerals: Your Professional Mineral Rights Company
Are you looking for a professional mineral rights company to sell your mineral rights? Look no further than Blue Flame Minerals. We’re a leading mineral rights company with years of experience in the industry. We offer a fair price for your mineral rights and work quickly to get the deal done. Contact us today to learn more about our services.