How far do mineral rights extend?

A mineral rights agreement may range from a few to 20 years. Oil and gas leases often have two terms: a primary and a secondary term. If no drilling or production activity has taken place at the end of a primary term, the lease will expire.

What does it mean when you don’t own mineral rights?

Mineral rights don’t come into effect until you begin to dig below the surface of the property. But the bottom line is: if you do not have the mineral rights to a parcel of land, then you do not have the legal ability to explore, extract, or sell the naturally occurring deposits below.

How are mineral rights value determined in Oklahoma?

The Mineral Rights Value in Oklahoma is highly dependent on getting your property in front of the right buyers so you can receive fair market value. Unfortunately the Mineral Rights Value in Oklahoma for non-producing properties is more difficult. There is no Zillow for mineral rights.

Can a previous owner still own mineral rights?

This means that although you own the surface of your land, someone else could own the minerals beneath the surface. Furthermore, some minerals could have been sold while a prior owner retained others. Accordingly, when you purchased the land, you might not have been deeded all of the mineral rights. Get your deed.

When do I need to check my mineral rights?

If you think that you might have minerals on your property, then you will want to check if you still own them. Sometimes, a prior owner might sell off the mineral rights to a piece of land. If that happened, then you did not purchase the subsurface rights in the minerals when you purchased the land.

How much does it cost to update mineral rights?

Records are not automatically updated when people move or inherit mineral rights. For any given property there might be dozens, sometimes hundreds of mineral owners. Anyone can update their records at their county courthouse for less than $20.