If a piece of land has mineral rights, the value can increase drastically because the land has so much more value than what it on its surface. However, determining the value of the property and dealing with legal issues can become complex.
This is why landowners who also have mineral rights need to take the time to understand laws relating to real estate and mineral rights. This can create disputes between the buyer and the seller.
Ownership of rights is different from ownership of minerals
The difference between the ownership of rights and the ownership of mineral interests cannot be emphasized enough. If a person buys the rights to minerals in the land, it does not mean that they will be successful in gaining the minerals that may or may not lie beneath the surface.
You can’t sell something that you don’t have!
Additionally, landowners who are not familiar with the law may try to sell their mineral rights, when they do not have such rights to begin with. You will need to prove that you have legal ownership of mineral rights before you sell them.
Avoiding disputes is in everyone’s interests
Getting involved in a real estate dispute can become costly and stressful for everyone involved. In order to avoid such situations, it is best to do your research from the start to gain an understanding of the owners of rights regarding your land.
If you want to resolve a mineral rights dispute, you should consider taking swift action so that the situation does not escalate.
