Mineral Rights
Definition of "Mineral rights"
Ownership rights to the minerals or other precious resources, such as petroleum, in one's property. A property owner having the mineral rights to the property can do one of three things with them:
- Personally recover the precious resources and sell them.
- Sell the rights to the resources to another party for a fee.
- Lease the mineral rights and receive a royalty.
Popular Real Estate Terms
Situation in which pledged property is held by a person or entity until the loan is paid. ...
Used to indicate what is included in a monthly payment on rental property. If the payment includes only principal and interest, property taxes, and hazard insurance would make the total ...
Property devoted to only one such as a medical building. ...
A person who dies without a will and having unknown intentions regarding his estate. In such case, a court administrator is typically appointed to act as an executor in distributing any ...
One who represents a zone such an elected leader of a region. He or she have dealings with the county's officials in matters affecting that zone. ...
Revising the provisions, conditions, or terms of an oral or written agreement or contract. An example is when a contractor wants to increase the price of a job on a home when he realizes ...
Provision of the Internal Revenue Code applying to gains from the sale of personal property subject to depreciation. In most cases, the gains are at the capital gains tax rate limited to ...
Person's sole ownership of real property. ...
System for listing recorded documents affecting a particular tract of land. ...
Have a question or comment?
We're here to help.