Grantor conveys, with limited warranty, unto the grantees all of grantor's mineral interest, including but not limited to oil, gas, carbon dioxide, and all other minerals in, on and under certain property described in the document.
Tennessee Oil, Gas and Mineral Deed - Individual to Two Individuals
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Multi-State
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US-00576-A
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Word;
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FAQ
When it comes to mineral rights, the standard admonition has long been consistent and emphatic: Avoid selling them. After all, simply owning mineral rights costs you nothing. There are no liability risks, and in most cases, taxes are assessed only on properties that are actively producing oil or gas.
Mineral rights and air rights may be owned by someone other than the owner of the surface. It is common, for example, for a surface owner to sell to a third party the rights to any oil, gas, coal, and other minerals that may be located be- low the surface.
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.
(c) Any interest in coal, oil and gas, and other minerals shall, if unused for a period of twenty (20) years, be extinguished, unless a statement of claim is filed in ance with subsection (d), and the ownership of the mineral interest shall revert to the owner of the surface.
Also known as a mineral estate, mineral rights are just what their name implies: The right of the owner to utilize minerals found below the surface of property. Besides minerals, these rights can apply to oil and gas. Interestingly, mineral rights can be separate from actual land ownership.
