Texas Surface Use Compensation Agreement
Description
How to fill out Surface Use Compensation Agreement?
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FAQ
The general rule of thumb for the value of mineral rights in Texas is 2x to 3x the lease bonus you received. For example, if you got $500/acre when you leased your property, you might expect to sell for somewhere between $1,000 to $1,500/acre if you were to sell mineral rights in Texas.
There are two types of rights that may be included in land ownership: surface rights and mineral rights. A landowner may own the rights to everything on the surface, but not the rights to underground resources such as oil, gas, and minerals.
Real Estate Dictionary Surface rights refer to the legal rights and privileges associated with the use, control, and ownership of the surface of a piece of land or property. These rights typically include the ability to occupy, build, develop, and make use of the land's surface for various purposes.
Yes, it can be beneficial to sell your mineral rights for a fair price, even producing rights. First, sellers must be aware of the different stages of the production process. They must also know the value their minerals and royalties command in every development stage.
A mineral owner has the right to extract and use minerals found beneath the surface of a particular piece of land. Exactly which minerals are included depends on the terms of the specific conveyance (the document within which someone bought or sold the rights).
The surface use agreement will specify what the oil and gas company or operator can do on the landowner's land in developing the oil and gas, where development can take place, and what compensation the landowner will receive.
A property owner with mineral rights may explore, extract, and sell natural deposits found underneath the land surface. But surface rights only refer to exclusive rights to all physical property on the land.
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.