Missouri Underground Storage Lease and Agreement (From Surface Owner with Mineral Interest)
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How to fill out Underground Storage Lease And Agreement (From Surface Owner With Mineral Interest)?
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FAQ
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. If you're selling mineral rights, you can set the term length.
Mineral rights can expire if the owner does not renew them or if they go unclaimed for a certain period of time. Mineral rights can also be sold, fractionalized, or transferred through gifting or inheritance.
Transfer By Will It is also possible to transfer or pass down mineral rights by will. 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.
Missouri's statutes give the owner of the property rights to the minerals below the surface in the absence of a contract to the contrary. They also prescribe the duties of property owners and miner's.
Mineral interests can be owned by private landowners, private companies, or federal, state or local governments. Sorting these rights are a large part of mineral exploration. A brief outline of rights and responsibilities of parties involved can be found here.
