Mississippi Subsurface Underground Gas Storage Lease and Agreement (From a Surface Owner, With No Right to Use the Surface of the Lands being Granted)
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How to fill out Subsurface Underground Gas Storage Lease And Agreement (From A Surface Owner, With No Right To Use The Surface Of The Lands Being Granted)?
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FAQ
Yes, subsurface rights are considered real property. This includes the rights to any minerals, oil, gas, or other natural resources that may be located beneath the surface of the land. These rights can be bought, sold, leased, or inherited like any other real property.
Conduct a title deed search at the county records office to find the owner history in the title deed. Follow the history of the property through the chain of owners. This can tell you whether the property or land was ever owned by an oil and gas company.
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.
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.
One quick and dirty approach is the ?rule of thumb.? Those following the rule of thumb say that mineral rights are worth a multiple of three to five times the yearly income produced. For example, a mineral right that produces $1,000 a year in royalties would be worth between $3,000 and $5,000 under the rule of thumb.
The rising value of oil and minerals have increased the popularity of investing in the mineral rights but not the property rights. To research how to attain these rights, look at the county's courthouse. They typically have a deed record of mineral rights. From there you can contact the owners of the rights.