Mineral Rights
Definition of "Mineral rights"
Ownership rights to the minerals or other precious resources, such as petroleum, in one's property. A property owner having the mineral rights to the property can do one of three things with them:
- Personally recover the precious resources and sell them.
- Sell the rights to the resources to another party for a fee.
- Lease the mineral rights and receive a royalty.
Popular Real Estate Terms
Housing projects specifically designed to meet the community needs of the increasing number of individuals who are largely retired, having no small children. Adult communities are found ...
Real estate held for productive use or investment. Land is recorded at the acquisition price plus incidental costs including real estate commissions attorney's fees, escrow fees, title, ...
Same as term landlocked: Parcel of land that is totally surrounded by other land parcels not providing access to a highway. ...
Title that can be made null and void or defeated upon the satisfaction of a claim or the completion of some future contingency. ...
A broad definition of termite clause is a provision in a contract for the sale of real property that gives the purchaser the right, at his or her expense, to have the property inspected for ...
A person has the option of canceling a contract previously agreed to. ...
generic name of the form used to file taxes payable to a federal, state, or local government. The tax return includes items such as gross income, deductions, tax credits, and tax due. ...
Any structure projecting from a wall or other vertical element for the purpose of providing support for a weight or other object. ...
A written document terminating the terms of a lien through payment of all financial obligations. A lien release is given by the lienor, the one holding the lien, to the lienee, individual ...
Have a question or comment?
We're here to help.