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A quick overview of the differences between mineral rights and royalty interests shows a mineral interest is a real property interest obtained by severing the minerals from the surface and a royalty interest grants an owner a portion of the production revenue generated.
After confirming your ownership with a lawyer, you should draw up a deed of transfer of the dormant mineral in your name and file it with your local county records office as the new mineral owner according to the state laws.
When it comes to mineral rights, the standard admonition has long been consistent and emphatic: Avoid selling them. After all, simply owning mineral rights costs you nothing. There are no liability risks, and in most cases, taxes are assessed only on properties that are actively producing oil or gas.
Mineral rights deeds are not the same as royalty deeds. Royalty deeds do not allow for surface access, or for the initiation of the extraction and sale of minerals. A royalty owner will only benefit economically if the mineral owner decides to produce and sell the minerals.
Transfer Your Mineral Rights Transfer by deed: You can sell your mineral rights to another person or company by deed. Transfer by will: You can specify who you want to inherit your mineral rights in your will. Transfer by lease: You can lease mineral rights to a third party through a lease agreement.
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Ohio adopted its Dormant Mineral Act ("DMA") in 1989 and amended it in 2006. Ohio Rev. Code § 5301.56. [1] The 1989 Act provided that a mineral interest "shall be deemed abandoned and vested in the owner of the surface" unless a savings event occurred within the preceding 20 years.
As a general rule of thumb, you can expect to sell mineral rights in Texas for 4 years to 6 years times the average monthly income.
Transfer by deed. If you want to sell the mineral rights to another person, you can transfer them by deed. You will need to create a mineral deed and have it recorded. You should check with the county Recorder of Deeds in the county where the land is located and ask if a printed mineral deed form is available to use.
A mineral deed provides the holder with executive rights pertaining to the property beneath the surface. The deed holder is given a \u201creasonable surface use\u201d or provision to enter, use and improve the property in the course of extracting the minerals. The deed holder is fully licensed to extract and sell those minerals.
Where do you purchase mineral rights? There are multiple ways to buy minerals, the most common being at auction, from brokers, by negotiated sale, tax sales, and directly from mineral owners. The process of buying minerals varies depending on where you buy them.

mineral and royalty deed forms texas