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Mineral rights can be separate from property ownership (see Split estate). Mineral rights can refer to sedentary minerals that do not move below the Earth's surface or fluid minerals such as oil or natural gas. [1] There are three major types of mineral property: unified estate, severed or split estate, and fractional ownership of minerals. [1]
Mineral rights may be severed by a deed from the surface rights. Such a condition is called a split estate. Once severed from surface ownership, oil and gas rights may be bought, sold, or transferred, like other real estate property. Ownership in the oil and gas rights for different horizontal layers, or strata, may be further divided and sold ...
In the 49 United States practicing British common law (the 50th, Louisiana, derived its law from French and Napoleonic Code), a split estate is created when the original fee simple owner sells or otherwise loses ownership of the subsurface, often called the mineral estate. Executor rights transfer in whole, unless otherwise reserved, and ...
The disposition of mineral rights is rarely explained to buyers before or during closings, real estate professionals say, and title searches don't always pick up the information, either.
Mineral rights on Indian lands. As part of its trust responsibilities, the BLM provides technical advice for minerals operations on 56 million acres (230,000 km 2) of Indian lands. [67] Leasing and Land Management of Split Estates. A split estate is similar to the broad form deeds used, starting in the early 1900s. It is a separation of mineral ...
The broad form deed is based on the premise of severing the surface and mineral rights of property. The precedence of this idea comes from English legal theory. [2] In this theory the King retained rights to various minerals on landowners estates for the purposes of maintaining the operations of the country and as such the King had authority to mine for those minerals. [2]
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