Nevada Underground Storage Lease and Agreement (Surface and Minerals)
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How to fill out Underground Storage Lease And Agreement (Surface And Minerals)?
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FAQ
Owning a property's ?mineral rights? refers to ownership of the mineral deposits under the surface of a piece of land. The rights to the minerals usually belong to the owner of the surface property, or surface estate. In Texas, though, those rights can be transferred to another party.
Texas follows the Rule of Capture in determining ownership of groundwater. Under this rule, groundwater is considered the private property of the landowner.
A landowner may own the rights to everything on the surface, but not the rights to underground resources such as oil, gas, and minerals. In the United States, landowners possess both surface and mineral rights unless they choose to sell the mineral rights to someone else.
Finally, the court reiterated what prior opinions had held in Texas. The term minerals or oil, gas and other minerals does not include limestone, caliche, surface shale, building stones, sand, gravel and water regardless of whether the water is located on the surface or in the ground.
Not owning the mineral rights to a parcel of land doesn't mean your property is worthless. If someone else owns the mineral rights and they sell those rights to an individual or corporation, you can still make a profit as the surface rights owner. You have the rights of ingress and egress.
Mineral rights are the rights to underground resources including oil, natural gas, gold, silver, copper, iron, coal, uranium, and other minerals. Sand, gravel, limestone, and subsurface water are not considered mineral rights and typically belong to the surface rights holder.