Factors to Consider when Selling Mineral Rights
There are a number of mineral owners who do not even know this yet. The value of the minerals involved could be unknown to some owners who already know they own properties with minerals. There are a number of things that need to come to your attention if you inherited or purchased this kind of land before you make any sales. Be sure that you know how much it is worth. Below are some of the things that you should consider very crucial when you get to this point.
The first thing to figure out will be what mineral rights are. Minerals right are the rights that give the owner permission to extract minerals to the surface of the land. Some minerals will be sought after than others it doesn’t mean that the rest is not important. Most people sought after minerals such as crude oil, gravel, natural gas, coal, etc.
The knowledge of what mineral you possibly own is therefore very crucial when it comes to the point where you are thinking of making a sale. Depending on whatever place your land is situated if you are in places where there is already a bigger production of minerals then you are likely to be living over a very exclusive asset. In as much as people would make you feel that oil is the only important mineral in some places you should know that there are other minerals that could be equally important aside oil. The only way you are therefore going to know the worth of your land is when and only when you know the minerals beneath your land.
A lot of questions will need answers right before you get to the process of mineral extraction. The first thing is to answer the question of the true ownership of the property. In most countries the deed among other documents will tell the real owner of the piece of land. It is possible to have the documents say ‘fee simple’ which will clearly mean that you own all the rights of the property and therefore can extract whatever minerals there is the way you want. If the documents say either ‘subject to’ or ‘less and except’ then it could mean that you do not own either all or a portion of the property. The mineral rights, in this case, are for someone else.
If you own the mineral rights then you are sure to own the surface rights. Try to deal with unscrupulous businesses. Do not be too much focused on money that you forget that there are other environmental impacts that need to be considered too.