North Carolina Stipulation of Ownership of Mineral Interest in Specific Lands
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How to fill out 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.
