This form is used by Claimant as notice of ownership and claim of title to additional interest of the mineral estate in lands, by having engaged in, conducted, and exercised the acts of ownership, which entitle Claimant to ownership of the additional mineral interest by limitations, under the laws of the state in which the Lands are located.
Mississippi Notice of Claimed Ownership of Mineral Interest, by Limitations
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Multi-State
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US-OG-362
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Word;
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How to fill out Notice Of Claimed Ownership Of Mineral Interest, By Limitations?
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FAQ
Whether you have an offer on the table or not, you may have good reasons to sell your mineral rights: To pursue other opportunities. If you have a nonproducing property, you might have to wait years for anything to happen ? and nothing may ever happen, even after multiple leases.
Check the County Clerk's Office To find information on mineral rights, you may also visit the county clerk's office in the county where the minerals are located. This office stores data, documents, and records of leases and deeds filed for mineral rights.
The value of mineral rights per acre differs from state to state. Typically, the price ranges from $100 to $5,000 per acre in several states. In Texas, the average price per acre for non-producing mineral rights is usually between $0 and $250 per acre, as a general guideline.
Most sellers retain ownership of any potentially profitable mineral rights, such as oil or gas.
If an oil company drills a well under your land without having a lease from a mineral interest owner, it is generally considered a trespass. In such circumstances, the unleased mineral interest owner would generally be entitled to his or her share of production from the well.
Finding Who Owns Mineral Rights To Your Property The legal description of your party can make the search easier. If you don't have that, you can take your property deed to the tax office, and they can help you find the legal description. The information should be held in the deed records room.
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.
