Along time ago, and im talking like 3 generations back, my family lost part of our land to Texas and sold the other part. However we never lost the mineral rights to the land. Can you still collect without actually owning the land?
2007-01-09 09:28:37 · 5 answers · asked by Nikki 2 in Politics & Government ➔ Law & Ethics
As long as the court records show that the mineral rights were reserved by the seller then yes you can still collect on the mineral rights to the best of my knowledge.
The best way to make sure is to contact a lawyer and have them go over the records and give you a legal plan of action and a legal answer.
My personal opinion is that it should be illegal to sell just the top of the ground and keep the mineral rights. What happens to the new owner 10 years down the road when they have built a very nice home and you decide to lease out the mineral rights to a company that wants to strip mine for coal or other minerals such as bentonite. The new owner just got screwed because they can not stop the process and could possibly have to move or destroy the home they built on property they own.
2007-01-09 09:37:23 · answer #1 · answered by Lance D 3 · 1⤊ 0⤋
Yep, you can still collect money for the minerals on that land. Any use-even reserve the right to use means you should be compensated. I know of somebody who receives a few hundred dollars because they own the mineral rights to land but sold the property awhile ago. Company pays them for the right to mine it.
2007-01-09 09:45:44 · answer #2 · answered by trigunmarksman 6 · 1⤊ 0⤋
If you own the mineral rights you can collect if any oil etc us being extracted. You can sell those rights. If they are in a town you'll have a problem though.
2007-01-09 09:33:18 · answer #3 · answered by madjer21755 5 · 0⤊ 0⤋
Of course.
Mineral rights and surface rights are often owned seperately.
If anybody extracts those minerals, they have to pay you for them.
2007-01-09 09:33:51 · answer #4 · answered by The answer guy 3 · 2⤊ 0⤋
Absolutely -- if you own the mineral rights.....very smart of your family!
2007-01-09 09:35:18 · answer #5 · answered by Anonymous · 2⤊ 0⤋