Definition of "Mineral rights"

Linda  Liederbach real estate agent

Written by

Linda Liederbachelite badge icon

Coldwell Banker Sea Coast Advantage

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:

  1. Personally recover the precious resources and sell them.
  2. Sell the rights to the resources to another party for a fee.
  3. Lease the mineral rights and receive a royalty.

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