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Mineral Rights |
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I am interesting in buying 17 acres of property and the seller wants the mineral rights, What does this mean for me and how long does this take place? |
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The seller is willing to give you ownership of the surface of the land and of course the air above it, what you usually think of as the real estate. The seller wants to keep ownership of what's below the surface, though. If gold should be discovered under there, or more likely, oil, it would not belong to you. The intention is probably for that to be a permanent arrangement, though I suppose your agreement could be for some shorter time. |
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Edith
Originally published on August 13, 2007 |
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