2006-12-24 02:40:00 · 17 answers · asked by Paul M 2 in Business & Finance ➔ Renting & Real Estate
In theory...
THAT's why they have mineral rights, ownership of any oil underneath, etc.
2006-12-24 02:42:31 · answer #1 · answered by blktiger@pacbell.net 6 · 0⤊ 0⤋
lol in theory you do, but since the actual dirt stop and then it turns into magma once you get past the mantel I don't think you want to own that and since it moves past underneath your ownership all the time the magma is probably considered personal property since it is not attached to what you are supposed to own, the other part of the theory is that you own from the surface up to infinite but check this link out
Supreme Court case on Ownership of air space above a house: http://supreme.justia.com/us/328/256/case.html
The theory of land ownership is basically; from the surface of the earth down to the center of the earth and from the surface of the earth up into infinity.
Of course the government has priority rights such as escheat and the ownership of the real estate contains what is called a bundle of rights. These rights consist of amongst many; water rights and mineral rights these in particular could have been or may have been severed from the real estate when the patent to the real estate was issued by the government or sold by a prior owner. Once that is done then those particular properties become personal property of others and do not belong in the ownership of the real estate you are supposed to own.
Happy Holidays and Buena Suerte
2006-12-24 08:07:40 · answer #2 · answered by newmexicorealestateforms 6 · 0⤊ 0⤋
If you own a piece of land you have what is know as "subsurface rights" Definition- Ownership rights in a parcel of real estate of any water, minerals,gas,oil and so forth that lie beneath the surface of the property. You also have what is know as "air rights" you own all the space above you parcel all the way to space. This is important in major cities like NY where air space is purchased by larger buildings who block the sun from smaller ones.
2006-12-24 04:28:58 · answer #3 · answered by Rob B 1 · 0⤊ 0⤋
Depends on whether or not you bought the mineral rights with the surface rights. In the western US, the railroads own much of the mineral rights, but you can occasionally find some land for sale with them. Usually much larger parcels of land.
2006-12-24 03:31:51 · answer #4 · answered by trblmkr30 4 · 0⤊ 0⤋
No, if you're living in Britain the government owns all the mineral rights under your land, and all the airspace above it. You may however own any caves beneath it, if they are accessed from your property. I'd check with a solicitor if I was you.
2006-12-24 02:59:38 · answer #5 · answered by selchiequeen 4 · 0⤊ 0⤋
Maybe, maybe not. Many deeds come without mineral or riparian (water) rights. A full title search would be needed to say for sure. It's not uncommon for the developer that subdivided the land to retain mineral and riparian rights.
2006-12-24 02:47:25 · answer #6 · answered by Bostonian In MO 7 · 2⤊ 0⤋
NO ALL LAND IN UNITED KINGDOM,IS owned by the crown one of the only places where if you purchase land is america . i only just found this out during a radio program
2006-12-24 10:04:23 · answer #7 · answered by JOSEPH A 2 · 0⤊ 1⤋
depending on the country you own the land and the law as it stands
2006-12-24 02:55:05 · answer #8 · answered by P T 2 · 0⤊ 0⤋
Yes
2006-12-24 02:44:10 · answer #9 · answered by Anonymous · 0⤊ 1⤋
Yes
2006-12-24 02:42:30 · answer #10 · answered by Sir Sidney Snot 6 · 0⤊ 1⤋
Yep! That's why mineral rights are important when one buys property. One doesn't REALLY KNOW what's under one's feet! For instance, if you strike oil, who gets the revenue?
HANK (Josh)
2006-12-24 02:45:21 · answer #11 · answered by Josh Logan 2 · 0⤊ 0⤋