What does seller to retain mineral rights mean?
An exception occurs when the seller stipulates that they are only selling surface rights and will retain mineral rights.
Alternatively, an owner could decide to sell the mineral rights on their property, which means that they keep the surface rights..
Do mineral rights transfer when the property is sold?
Many property buyers assume they are gaining ownership of the entire property, both surface and subsurface rights. … Generally, a property conveyance transfers rights to both the surface land and mineral reserves below, until the mineral rights are sold. In this case, the mineral rights transfer with the property to you.
Are mineral rights valuable?
Unfortunately, if your minerals are not close to any of these basins, they will likely have little value. Current and past production is also of primary importance in valuing your mineral rights. … If there is no current production, your mineral rights will not be worth nearly as much as producing minerals.
What does having mineral rights mean?
Mineral rights are the ownership rights relating to underground resources such as oil, silver, or natural gas. In the United States, there is a legal distinction between mineral rights and surface rights.