Mineral rights. Who thinks that is screwed or what?

Question

Don't get 'Edna on me'.
Here's a definition:

An ownership interest in the minerals contained in a particular parcel of land, with or without ownership of the surface of the land. The owner of mineral rights is usually entitled to either take the minerals from the land himself or receive a royalty from the party that actually extracts the minerals.

So that means I own the surface of the soil and above. But not too far, because there is some Gov. Air space that's not mine, in the sky.

Answer 1

You can always insist on having the mineral rights when you buy but the seller can refuse to sell if he doesn't retain the mineral rights. This is in places where they may find gold on the property or oil or any other mineral that may be profitable. But what would you be buying the land for? ranching ? or farming? in which case you would not be planning on reaping these riches and there are probably not any to be reaped. It is mostly a mental masturbation point that leaves sellers mind at ease, that the land his great grandfather pioneered would not be completely lost.

Answer 2

Just where in any contract for land does it say you own everything to the core of the Earth, or to outer space! You're a nut stuck in a hard shell and that's tough, but just live with it and stop rocking the boat before you fall out!

The oil, minerals, and ores should belong to the people of the country and not to any one person. Alaska does this by state law and PAYS all 660,000 residents about $1000 p/yr and pays all the states expences from the Earth Rights. Alaska has no state income nor sales tax because of this system.

This would be a great program for all the US, and could eliminate income taxes if and when done. The fact that there are 50 states would mean a god send for the poor with a pay check for every household and NO taxes. Would a $25,000 to $50,000 pay check and no taxes ease your troubled mind some?

Answer 3

Yes, and mineral rights owners have the right to use the surface of the land to retrieve the minerals below. The good news is that there are laws in most states that would prohibit them from trashing your yard and house to do this. It mostly comes up in oil drilling cases, and now some natural gas cases.

Answer 4

I see you working

I own 1/32 mineral interest in a 640 acre tract but only to a certain depth.

but I can't drill a well on my own so, I'll take it

Answer 5

by using fact the outdoors proprietor, you have the desirable suited to barter a floor use settlement for the drill internet site region. you would be compensated for 'use' of the valuables and for any damages on your sources as end results of the operations. The agreements additionally must seize up on any loss of wood, flora and and so on. you haven't any longer have been given a precise to any of the production from the nicely.