Sunday, November 25, 2012

Learn The Basics Of Bakken Shale Mineral Rights

By Paul Seiwes


What do you know about mineral rights? If someone comes to you to ask if you have the mineral rights for instance the coal discovered beneath your land, can you readily answer? It is not surprising that there are landowners who may not be aware of this right. While they might have an idea, often what they know is not enough. Should you be on the same situation, it is on your best interest to be educated about this right so you can use it to your advantage. Who would know if the land you're walking on has a gold mine? So while you await such discoveries, make sure you are well-informed now. If you have a property in the Bakken area, then make an effort to know what Bakken Shale Mineral Rights are.

By definition, mineral rights, also known as mineral estate, pertains to the landowner's right to profit from the minerals extracted from the land. Taking this into consideration, the landowner can choose to sell or lease the rights or have the land developed.

But how can you be sure that you have the mineral rights to the area? One thing you can do is to check your deed. If you would see in the deed that it is fee simple that has been transferred to you, then it only follows that you own the mineral rights. Fee simple is the term used to mean complete ownership where the owner has control over the surface, the subsurface and the air above the property.

Before you explore phillipsenergy to know how you can sell your rights, see to it that you have the evidence to show that you own the property. But apart from the deed, you could also make use of the county clerk files to do your mineral rights search. This can be taxing, though as you might have to back track to decades or centuries ago. In this case you can consider hiring the services of a lawyer or specialty search company.

The selling of the rights can involve huge amount of money - from thousands to even millions of dollars. Thus, it is important that you understand the ins and outs in the market. It would also benefit you if you know what the relevant laws are so you can avoid any legal issues. Again, given this scenario, you should consider hiring the services of a lawyer. The same person you can rely on to review the contract should there be sale or lease. But while you can really profit from the professional assistance, it would still help if you could learn more.

If this would be your pursuit, then visit this site, phillipsenergy,, where you can obtain more information about mineral rights, including how you can sell or acquire such. This can also be your source of valuable information like the advantages of selling, which can in turn help you decide whether to push through with it or not. Overall, it is acquiring sufficient information that can help you succeed in your endeavors.




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