North Carolina Stipulation of Ownership of Mineral Interest in Specific Lands is a legal document used in the state of North Carolina to establish ownership rights over mineral interests in specific lands. This stipulation is crucial for individuals or entities looking to exploit and manage mineral resources such as oil, gas, coal, or other valuable substances found beneath the surface of the land. The stipulation of ownership serves as evidence that the specified individual or entity has the legal right to explore, extract, and generate income from the minerals in the designated lands. It establishes a clear chain of ownership for the mineral rights, ensuring that there are no disputes or conflicting claims. Keywords: North Carolina, stipulation, ownership, mineral interest, specific lands, legal document, rights, exploit, manage, mineral resources, oil, gas, coal, valuable substances, surface, land, evidence, individual, entity, explore, extract, generate income, chain of ownership, disputes, conflicting claims. Different types of North Carolina Stipulation of Ownership of Mineral Interest in Specific Lands may include: 1. Oil and Gas Stipulation of Ownership: This type of stipulation specifically focuses on the ownership and rights regarding oil and gas extraction. It defines how the individual or entity can explore, drill, and extract these specific minerals from the designated lands. 2. Coal Mining Stipulation of Ownership: This stipulation concerns the ownership and rights related to coal mining activities. It outlines the rights of the individual or entity to extract and utilize coal reserves found in the specified lands. 3. Non-Metallic Mineral Stipulation of Ownership: This type of stipulation covers the ownership and rights over non-metallic minerals such as sand, gravel, limestone, or clay. It establishes the rights of the individual or entity to extract and commercially use these valuable resources. 4. Valuable Mineral Resources Stipulation of Ownership: This stipulation encompasses a broader range of valuable minerals found in the specific lands, including rare earth elements, precious stones, or other unique minerals. It outlines the ownership and exploitation rights for these specific resources. 5. Minerals on Indigenous Lands Stipulation of Ownership: This type of stipulation involves mineral interests in lands owned or occupied by indigenous communities. It takes into account special considerations and legal requirements to ensure the rights and interests of indigenous communities are protected while addressing mineral exploitation. Keywords: Oil and gas, coal mining, non-metallic minerals, valuable mineral resources, indigenous lands, ownership, rights, extraction, utilization, specific lands, legal requirements, exploitation, valuable resources, rare earth elements, precious stones.
North Carolina Stipulation of Ownership of Mineral Interest in Specific Lands
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How to search for mineral rights records? County Records and Tax Assessor's Office and Documents. Conduct a title deed search at the county records office to find the owner history in the title deed. ... Loan Default History and Foreclosure. ... Royalty deeds. ... Use a title company to conduct a search. ... Online records search company.
The term severed mineral rights refers to a state of title to a given parcel of land in which the mineral estate is owned by a party other than the party that is the owner of the surface estate ? in other words, the mineral estate has been severed from the surface estate.
The ownership of rights to minerals, including oil and gas, contained in a tract of land. A mineral right is a real property interest and can be conveyed independently of the surface estate.
Go to the website for your county. At most county websites you can search by the parcel location or street address. Once you find the parcel of land, select it. You should find information about that parcel, including who owns it.
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.
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.
To determine if you own the mineral rights on a parcel, you will first need to check the deed. The mineral rights may have been severed from the surface at some point in time. If your deed does not list this information, you will need to contact the County Clerk in the county where your minerals are located.
