Mineral rights

Mineral Rights

Mineral rights (/ˈmɪnərəl raɪts/) are the ownership rights of natural resources like coal, natural gas, or metals extracted from the earth.

Etymology

The term "mineral rights" originates from the legal system of the United States, where it was first used in the 19th century. The term is derived from the Latin word "mineralis" which means "something mined".

Definition

Mineral rights are property rights to exploit an area for the minerals it harbors. Mineral rights can be separate from property ownership (see Split estate).

Types of Minerals

Mineral rights apply to all types of minerals, including but not limited to:

• Oil and Gas
• Coal
• Gold
• Silver
• Copper
• Iron

Ownership

Ownership of mineral rights (more properly "mineral interest") is an estate in real property. Technically it is known as a mineral estate, although often referred to as mineral rights. It is the right of the owner to exploit, mine, and/or produce any or all of the minerals lying below the surface of the property.

Leasing

The owner of mineral rights can lease, sell, gift, or bequest them to others individually or entirely. For example, it is possible to sell or lease rights to all mineral commodities beneath a property and retain rights to the surface.

Related Terms

• Surface rights
• Royalty payment
• Extraction
• Mining law

External links

• Medical encyclopedia article on Mineral rights
• Wikipedia's article - Mineral rights

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