Delaware Mineral Owner's Subordination (of Rights to Make Use of Surface Estate)
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FAQ
A property owner with mineral rights may explore, extract, and sell natural deposits found underneath the land surface. But surface rights only refer to exclusive rights to all physical property on the land.
Mineral rights are automatically included as a part of the land in a property conveyance, unless and until the ownership gets separated at some point by an owner/seller. An owner can separate the mineral rights from land by: Conveying (selling or otherwise transferring) the land while retaining the mineral rights.
A subordination agreement is one where the lending party agrees to assign the pre-existing lien a lower priority to a subsequent oil and gas lease. As a result, it is as if the lease had been executed and recorded prior to the lien.
Mineral rights are ownership rights that allow the owner the right to exploit minerals from underneath a property. The rights refer to solid and liquid minerals, such as gold and oil. Mineral rights can be separate from surface rights and are not always possessed by the property owner.
A mineral rights holder or subsurface rights holder may explore and exploit minerals such as natural gas, oil, and coal below the ground within the boundaries of their specific property. Commonly called mineral rights, these rights are real estate assets, which differ from the rights to the land surface of a property.
A quick overview of the differences between mineral rights and royalty interests shows a mineral interest is a real property interest obtained by severing the minerals from the surface and a royalty interest grants an owner a portion of the production revenue generated.
The general (common law) rule in the case of a split estate is that the mineral estate is ?dominant.? This means that the owner of the surface estate cannot prohibit the owner of the mineral estate from accessing and developing the minerals.
A property owner with mineral rights may explore, extract, and sell natural deposits found underneath the land surface. But surface rights only refer to exclusive rights to all physical property on the land.