The Mississippi Underground Storage Lease and Agreement (Surface and Minerals) refers to a legal contract that establishes the terms and conditions for leasing and utilizing underground storage space in Mississippi for mining and mineral extraction purposes. This agreement typically involves two major components: the surface rights and the mineral rights. The surface rights encompass the usage and access to the land's surface, while the mineral rights pertain to the ownership and extraction of minerals within the underground storage area. There are various types of Mississippi Underground Storage Lease and Agreement (Surface and Minerals) that cater to specific requirements and industries. Some of these include: 1. Oil and Gas Storage Lease: This particular type of agreement allows for the storage and extraction of oil and gas reserves underneath the surface. It covers terms related to drilling, exploration, production, and storage of oil and gas resources. 2. Salt Cavern Storage Lease: Salt caverns serve as excellent natural underground storage facilities for various materials, including gas, oil, and chemicals. This lease agreement addresses the legal aspects of utilizing salt caverns for storage purposes, such as capacity allocation, operation, maintenance, and financial responsibilities. 3. Underground Mineral Storage Lease: This lease agreement focuses on the storage and extraction of minerals from beneath the surface. It covers terms related to mining, excavation, environmental regulations, access rights, and profit-sharing arrangements. 4. Groundwater Storage Lease: In areas where underground storage of water is feasible, such as aquifers, this lease agreement regulates the extraction, storage, and usage of groundwater. It outlines conditions regarding the quantity of water extracted, conservation measures, recharge techniques, and potential limitations. In all variations of the Mississippi Underground Storage Lease and Agreement (Surface and Minerals), key concepts and provisions that are commonly addressed include lease terms (duration and renewal), rent payments, liability and insurance, environmental protection, reclamation of land after extraction, dispute resolution mechanisms, and rights of access for inspection and monitoring. It is important for parties involved in such agreements to seek legal counsel to ensure compliance with state laws and regulations pertaining to underground storage and mineral rights.
Mississippi Underground Storage Lease and Agreement (Surface and Minerals)
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An attorney can create a deed or assignment that conveys the mineral rights to the new owners. The original deed will need to be recorded in the county where the minerals are located. If there are producing wells on the property, each operator will need to be notified of the change in ownership.
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.
Mississippi's most abundant mineral resource is lignite. The state holds about 13 percent of the nation's reserves.
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.
Mississippi is a major producer of ball clay and fuller's earth (montmorillonite); it also produces bentonite, construction sand and gravel and crushed stone.
However, it is possible to hire a professional body to look for records of the property in question. You can also check, for a small fee, the records of county properties to determine who owned the property or minerals or if there is a lease covering them.