Often, when a business wishes to extract minerals, such as oil, gas or coal, by a piece of land, they’ll, rather than purchase the property outright, lease from its owner the land’s mineral rights. This provides the firm with all the right to harvest specific kinds of minerals in the land for a predetermined period of time. Though mineral rights can be a lucrative source of revenue, landowners must keep in mind several important hints before signing a rental. Take Your Time Though mineral rights leasing holds out the allure of fast money, from the beginning you must bear in mind that the process of settling with regards to the lease can last a very long time, up to several years. Oil and gas companies generally have time lines for projects, often measuring in the years. Try not to be impatient and do not be hasty in signing anything. Field…
Mineral Rights Leasing Tips
