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What is a use agreement?

A use and occupancy agreement - sometimes referred to as a UO - is a temporary agreement between the buyer and the seller that allows one party the right to use and occupy the property for a set period of time. Its usually put in place if the buyer needs to move into the property before ownership can be transferred.

What happens if you dont own mineral rights Texas?

Mineral rights dont 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.

What does full surface rights mean?

Surface rights refer to the ability to control the surface of the land. A person who owns surface rights to a tract of land may build on it, plant and sell crops and timber, use the surface water, lease the land, or sell it.[2]

What is a surface rental oil gas?

This means that a mineral owner (or lessees, as the case frequently is) has the right to use as much of the surface estate as is reasonably necessary for the production of minerals like oil and gas without compensation to the surface owner.

What is a use agreement?

A use and occupancy agreement - sometimes referred to as a UO - is a temporary agreement between the buyer and the seller that allows one party the right to use and occupy the property for a set period of time. Its usually put in place if the buyer needs to move into the property before ownership can be transferred.

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