Tennessee Mineral Owner's Subordination (of Rights to Make Use of Surface Estate)
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FAQ
WHO OWNS THESE MINERAL RIGHTS? In Canada, property owners generally hold the surface rights, while mineral rights are usually owned by the provincial government.
In the United States, mineral rights can be sold or conveyed separately from property rights. As a result, owning a piece of land does not necessarily mean you also own the rights to the minerals beneath it. If you didn't know this, you're not alone. Many property owners do not understand mineral rights.
For example, you (the mineral owner) sign an oil and gas lease with ABC Energy. Under that lease, you keep a 1/5 royalty interest. This means that each month you will receive 1/5 of the proceeds from production done by ABC Energy.
Negotiating an oil and gas lease will require some research upfront. If you're a landowner interested in working with an oil and gas company, you should explore their history and experience. You'll want to work with a reputable company that works in your best interests, holds a high standard, and maintains insurance.
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.
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.
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.
If you sign a mineral rights lease, then you are on your way to earning oil and gas royalties. As a mineral rights owner, you can receive royalty compensation. This is from the sale of crude oil, natural gas, and other valuable resources found on your property.