Arkansas Mineral Owner Consent Agreement (to Underground Storage Lease and Agreement)
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How to fill out Mineral Owner Consent Agreement (to Underground Storage Lease And Agreement)?
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FAQ
The right to minerals transfers at the time of death to the individuals named as beneficiaries. If no specific beneficiaries to the mineral rights are designated, ownership passes to the property and real estate heir.
Since mineral rights can be sold separately from the land itself, even if you own the land, someone else may hold ownership of what's below it. And because of the intrinsic value of what's below the surface, the land itself may come with a price tag much higher than otherwise seen in the area.
A mineral deed conveys a seperate estate in minerals in Arkansas. You should use a mineral deed when you wish to deed away the mineral rights to property but not the surface rights. An Arkansas mineral deed is also used to transfer existing mineral rights among mineral owners.
Whether mineral rights transfer with the property depends on the estate type. If it's a severed estate, surface rights and mineral rights are separate and do not transfer together. However, if it's a unified estate, the land and the mineral rights can be conveyed with the property.
The rule followed is generally known as the Strohacker Doctrine, named for the case of Missouri Pacific Railroad Co. v. Strohacker,s in which the Arkansas Supreme Court affirmed a chan- cery court decision that reservations of "coal and mineral deposits" in 1892 and 1893 deeds did not reserve the oil and gas.
In the State of Arkansas when a person sells a piece of property the mineral rights automatically transfer with the surface rights, unless otherwise stated in the deed.
