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If you’re involved in buying or selling of land, you must know all the rights involved. As a landowner, you need to manage forests, fields, buildings, ponds, and various other things on that surface. There are two main rights included in ownership of land: mineral rights and surface rights. The landowner also owns the rights for everything present in the surface, instead of the underground resource rights like gas, minerals, and oil.
In the United States, the landowners also buy mineral rights and surface rights unless they select selling mineral rights to anyone else. After selling mineral rights, the original owner also retains rights to land surface. Also, the second party can also exploit underground resources in the way they would like to.
How Mineral and Surface Rights Differ?
Properties hold mineral rights in different ways. When the one owner holds both mineral and surface rights, it’s known as unified estate. W… Read More