Louisiana Surface Use Agreement
Description
How to fill out Surface Use Agreement?
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FAQ
How long can you keep mineral rights in Louisiana? The lessee of mineral rights can only keep those rights for 10 years before they revert to the owner. This is ing to the law in Louisiana.
Also known as a mineral estate, mineral rights are just what their name implies: The right of the owner to utilize minerals found below the surface of property. Besides minerals, these rights can apply to oil and gas. Interestingly, mineral rights can be separate from actual land ownership.
Yes, mineral rights can expire. There's no one answer to when they'll expire or how long they last. All agreements have different term lengths.
Transfers fall under Articles 11 and 22, Louisiana Mineral Code. To transfer such rights, the new owner has to acquire a copy of the deed for the site at a local courthouse in Louisiana in the same county as the property.
In Louisiana for example, if you sell land, you may retain ownership of the minerals beneath it for a period of 10 years and one day at which time you must transfer such mineral rights to the current owner of that tract of land, but only if that owner has retained the land for the same period of time.
Conventional Wisdom Says Never Sell After all, simply owning mineral rights costs you nothing. There are no liability risks, and in most cases, taxes are assessed only on properties that are actively producing oil or gas.
A surface use agreement, which is also sometimes referred to as a land use agreement, is an agreement between the landowner and an oil and gas company or an operator for the use of the landowner's land in the development of the oil and gas.