Nevada Agreement Designating Agent to Lease Mineral Interests
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How to fill out Agreement Designating Agent To Lease Mineral Interests?
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FAQ
A mineral lease is a contractual agreement between the owner of a mineral estate (known as the lessor), and another party such as an oil and gas company (the lessee). The lease gives an oil or gas company the right to explore for and develop the oil and gas deposits in the area described in the lease.
A mining claim is a parcel of land for which the claimant has asserted a right of possession and the right to develop and extract a discovered, valuable, mineral deposit. This right does not include exclusive surface rights (see Public Law 84-167).
A claimant with an unpatented mining claim enjoys an exclusive possessory right in the surface land and the underlying mineral deposits, but the United States retains fee title in the land.
Types of Oil & Gas Lease Forms The type used most often by oil and gas companies today is known as the ?Paid-Up? lease. In this type of lease form, no bonus payments are due from the company after the lease is signed... you get 100% of your lease bonus money combined with the annual rental payments up front.
It is considered real property, though you don't actually own anything but the mineral rights. Congress and the BLM have severely undermined the 1872 Mining Act that created mining claims, but bold and creative prospectors are still making money on their mining claims.
Mining claims are a tangible asset and show proof of all interests in minerals in the area. They can be bought, sold or used as collateral, just like any other piece of real estate.
If your claim is located on BLM land, you must consult with the BLM Geologist in the appropriate BLM office which manages the public land. The BLM will then set forth the requirements and make a determination of your request. Before occupancy you need to receive approval from the BLM.
