Tennessee Agreement Designating Agent to Lease Mineral Interests

State:
Multi-State
Control #:
US-OG-016
Format:
Word; 
Rich Text
Instant download

Description

This agreement provides for a mineral owner to designate a person as his/her agent for purposes of dealing with third parties, and representing the owner in leasing mineral interests. The agreement sets out, in detail, the lease terms, the compensation to be paid to the agent, and the method of delivering compensation.
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  • Preview Agreement Designating Agent to Lease Mineral Interests
  • Preview Agreement Designating Agent to Lease Mineral Interests
  • Preview Agreement Designating Agent to Lease Mineral Interests
  • Preview Agreement Designating Agent to Lease Mineral Interests
  • Preview Agreement Designating Agent to Lease Mineral Interests
  • Preview Agreement Designating Agent to Lease Mineral Interests
  • Preview Agreement Designating Agent to Lease Mineral Interests

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FAQ

Mineral rights are also referred to as subsurface rights; that is, the rights to the natural resources lying below the earth's surface. Any transfer of land may be accomplished with or without the transfer of the subsurface rights.

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.

Receive Payment Royalties are a form of payment made to the owner of the mineral rights, in exchange for the right to extract and sell the resource. In the context of mineral rights, royalties are typically a percentage of the revenue generated from the sale of minerals extracted from the property.

Landowners should consider consulting with a local mineral rights expert when it comes to reviewing the quality of a lease offer to determine if it is mutually beneficial- LandGate can refer mineral owners to a local expert. There are many factors that influence the calculation of mineral worth.

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.

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.

An assignment of oil and gas lease is a contractual agreement between a landowner and an oil or gas company in which the company gains the right to explore for, develop, and produce oil and gas from the property.

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.

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Tennessee Agreement Designating Agent to Lease Mineral Interests