Utah Stipulation of Ownership of Mineral Interest in Specific Lands
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How to fill out Stipulation Of Ownership Of Mineral Interest In Specific Lands?
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FAQ
The term ?undivided interest? refers to a type of ownership in which multiple parties share ownership of a single asset without the property being physically divided among them. This is commonly seen in real estate, natural resource holdings, and certain types of financial investments.
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.
You can look up your Utah mineral rights using the BLM's Utah Interactive Map or the Utah Department of Natural Resources Division of Oil, Gas and Mining's (UDOGM) interactive GIS map. Each state has a different GIS map, and some are easier to use than others. Fortunately, Utah's GIS map is very easy to use.
By statute and case law, mineral properties are taxable as real property and are subject to the same laws and appraisal methodology as all real property in the state.
The ownership of rights to minerals, including oil and gas, contained in a tract of land. A mineral right is a real property interest and can be conveyed independently of the surface estate.
Mineral rights are a form of real property, and they are governed by the same principles of marital property law as other real estate. If the mineral rights were owned before marriage, they are separate property.
What Are Mineral 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.
However, since mineral rights are a severed portion of the land rights themselves (they're separated from the land's "surface rights" and sold separately by deed, just like the land itself), they are usually considered real property.
