New York Warranty Deed for Surface and Mineral Interests
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How to fill out Warranty Deed For Surface And Mineral Interests?
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FAQ
Surface rights and mineral rights are two distinct types of property rights. Surface rights refer to the right to own and use the surface of a piece of land, while mineral rights refer to the right to extract minerals and other resources that are found beneath the surface.
The general (common law) rule in the case of a split estate is that the mineral estate is ?dominant.? This means that the owner of the surface estate cannot prohibit the owner of the mineral estate from accessing and developing the minerals.
Mineral rights are ownership rights that allow the owner the right to exploit minerals from underneath a property. The rights refer to solid and liquid minerals, such as gold and oil. Mineral rights can be separate from surface rights and are not always possessed by the property owner.
Producing minerals have one or more active oil and gas wells. Royalty owners are paid royalties on the proceeds from the sale oil, gas, and other minerals that are produced under a specific tract of land.
In the United States, landowners possess both surface and mineral rights unless they choose to sell the mineral rights to someone else. Once mineral rights have been sold, the original owner retains only the rights to the land surface, while the second party may exploit the underground resources in any way they choose.
What Are Mineral Rights and Who Has Them? Mineral rights in Texas are the rights to mineral deposits that exist under the surface of a parcel of property. This right normally belongs to the owner of the surface estate; however, in Texas those rights can be transferred through sale or lease to a second party.
Dominance of Mineral Estate This means that the owner of the mineral estate has the right to freely use the surface estate to the extent reasonably necessary for the exploration, development, and production of the oil and gas under the property.