Sunday, April 20, 2014

Do You Own The Mineral Rights?

Often times African American people sell the land without knowledge of mineral and oil rights. How often do we talk about the mineral and oil rights in our families. When was the last time you visit the courthouse to check on the mineral and rights oil, and gas lease? Have you consult with and attorney? Are you discussing these important matters at your family reunion.

Minerals rights in an oil and gas lease differ from surface rights. A landowner may own the surface land but not the mineral rights of that land. The owner of the land should check on whether he/she has ownership of mineral rights or title of the land.

One of the places to check on real ownership is through an independent sandman or a bank. The landowner can also use and abstract company. Whosever is the one contracted to perform the mineral title is then empowered to obtain and ownership report or mineral takeoff.

The owner of the land, is order to legally negotiate with the oil gas production company, has to know whether they have clear title to mineral rights of the that land. In many cases, the mineral right are separated from the surface right.

Developers say that Tangipahoa Parish is sitting on oil. People are preparing for possible oil and gas boom.