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
Same as term government rectangular survey: Way in which the U.S. government uses to subdivide public land. Land is designated as either a base line (East-West) or principal meridian line ...
Street terminating at one end with only one outlet. A dead end street is not a through street. See also cul de sac. ...
Interior building trim surrounding windows, doors, and baseboards. Interior trim is both decorative and functional. It comes in several different styles and serves to finish the adjoining ...
Lien prior to another lien taking precedence over it. A senior lien may not necessarily be a first lien. ...
Doing business as, or DBA, means an official moniker for your enterprise or company. Regularly, a DBA is a state certificate serving as a registration name and issued under a ...
Dividing a lot into two or more parcels. Normally a variance would have to be obtained to permit a lot split. The lot cannot be split unless they meet minimum area zoning requirements ...
Early American architecture modeled after the English Georgian architecture having two or three stories with a rectangular design and ample ornamentation often including a widow's walk. ...
Request of a local government's planning body to alter the zoning requirements based on a justifiable reason. ...
Real estate, home and life insurance use numerous ambiguous terms you should know because you can significantly benefit from them. Let’s discover what the word boot usually applies to ...
Have a question or comment?
We're here to help.