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Are mineral rights and royalties the same thing?

A mineral interest owner also possesses the right to receive lease bonuses, delay rental payments, shut-in payments and royalties. A royalty interest, on the other hand, is the property interest created that entitles the owner to receive a share of the production.

What is mineral transfer?

Typically, a property conveyance (sale) transfers the rights of both the surface land and the minerals underneath until the mineral rights are sold. Mineral rights are conveyed meaning transferred to a new owner through a deed.

Do mineral rights expire in Oklahoma?

This means that if no well to produce your mineral interest is drilled, the lease will expire when three years have passed. On the other hand, if minerals are produced, the lease will continue (also referred to as held by production) until production ceases.

Do mineral rights transfer with property in Oklahoma?

If the mineral rights are not currently leased to a gas or oil producer, a deed of transfer will be filed. If the mineral rights are currently leased, the rights to the lease will be transferred into your name.

What are minerals and royalties?

A royalty is a fee that is imposed by local, state or federal governments on either the amount of minerals produced at a mine or the revenue or profit generated by the minerals sold from a mine. A royalty can be imposed as either a net or gross royalty.

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