Owning land is one of the most important rights and privileges Americans have. For this reason, many laws protect property rights, including those stemming from the fourth amendment of the U.S. Constitution.
Laws impacting different aspects of property are complex. Mineral rights are a vital component of this and comprise a very specific area of law.
Since property laws vary by jurisdiction, disputes over mineral rights can get messy. Complex issues can determine who can do what with the ground under your feet. For this reason, a seasoned attorney can assist in navigating the complicated legal aspects of a conflict.
Below is some basic information about mineral rights law. The article also contains some advice on circumstances where you would benefit from an experienced Albuquerque mineral law attorney. Keep reading to find out more.
What Are Mineral Rights?
In most situations, a mineral owner does not have the capabilities to extract valuable resources located in their soil. These can include energy products, like coal, oil, and natural gas, or metals like gold, silver, or copper. It could also include resources like limestone, gravel, or sand, found in minerals under your land.
Mineral rights legally entitle someone to explore, extract, and sell resources below the surface. They can be held by individuals, businesses, or government entities.
In most cases, the landowner possesses mineral rights when they buy the property, then sell or lease the rights for a designated period to a third party. This is not always the case, as mineral and surface rights are not necessarily conveyed together.
Disputes over mineral rights can happen for a variety of reasons. One of the most common causes is a contract dispute. Other times, the extraction of mineral resources interferes with the environment or the ability to use the land.
What Does Mineral Rights Law Entail?
Mineral rights law starts with a title examination. An attorney with experience in this area can determine whether any liens or other issues affect the ownership or use of the property.
They can also help negotiate the terms of a mineral rights sale or lease contract. This will ensure that your interests are protected. It also will guarantee that the contract contains all the necessary information to make it legally binding.
Mineral rights transactions can have serious tax implications. An experienced attorney can advise you on these impacts. They also can help construct a contract that is the most advantageous to you from a tax perspective.
Finally, an experienced mineral rights attorney can represent you in a court of law. They can handle motions and argue on your behalf, to get you the best possible outcome for your case. They can also give you legal advice about what you can or cannot do on the land until the dispute is resolved.
Find a Mineral Law Attorney Near You
Now that you understand a bit about New Mexico mineral rights and how an experienced attorney can help, you can determine the best course of action for your situation. Hiring a lawyer will give you the peace of mind that your mineral rights contract is accurate and valid, and that you will be expertly represented in the event of a dispute.
At the Herring Law Firm, we specialize in legal matters as they relate to the energy industry, including mineral rights litigation. Read more about our firm and expertise, or contact us today to set up an appointment to discuss your case.