- 1 How do I find out who owns mineral rights in New Mexico?
- 2 How do mineral rights work in New Mexico?
- 3 Who owns mineral rights on my land?
- 4 How do I find out how much mineral rights I own?
- 5 How do I file a mining claim in New Mexico?
- 6 Should I buy land without mineral rights?
- 7 Are mineral rights a good investment?
- 8 What happens if you find diamonds on your property?
- 9 What happens if you find gold on your property?
- 10 How are mineral rights passed down?
- 11 What does it mean when seller retains mineral rights?
How do I find out who owns mineral rights in New Mexico?
STATE LAND OFFICE: If the mineral rights are owned by the state, you can contact the State Land Office Minerals Program at (505) 827-5750, and this website for Lease Information – Minerals. An Internet search for “who owns the mineral rights to my property” will provide links to information.
How do mineral rights work in New Mexico?
It is perfectly legal and quite common to transfer mineral rights in New Mexico. Some landowners choose to retain some rights to the land but assign record title ownership to a miner. Others sign away all rights to a piece of land.
Who owns mineral rights on my land?
In the United States, landowners possess both surface and mineral rights unless they choose to sell the mineral rights to someone else. Once mineral rights have been sold, the original owner retains only the rights to the land surface, while the second party may exploit the underground resources in any way they choose.
How do I find out how much mineral rights I own?
To check if you own mineral rights, then you should start by getting a copy of your deed. If you do not already have a copy, then go to the county Recorder’s office and get a copy. Look to see if you were conveyed fee simple title to the property.
How do I file a mining claim in New Mexico?
Steps in locating a mining claim
- Locate the claim (discovery)
- Staking the claim.
- File the mining claim at the county courthouse and state BLM office.
- Contact appropriate federal and state agencies to inquire about regulations for exploration, obtaining exploration and mining permits.
Should I buy land without mineral rights?
In short, if you are buying land without mineral rights, the best way to do it is to research and do due diligence BEFORE buying the property. However, property without mineral rights isn’t worthless, and if someone wants to extract minerals from your land, you’re likely entitled to compensation.
Are mineral rights a good investment?
Mineral rights can potentially earn great returns and potentially even long-term, reliable passive income. But they do come with some significant risks and a lot of specialized knowledge. Market variability could turn a great deal into a complete bust in a matter of weeks.
What happens if you find diamonds on your property?
Most states will allow finders to keep the property if the owner does not show up to claim it after a certain time. Failure to report a found item can lead to criminal charges. So, unless you’re at Crater of Diamonds State Park, you cannot keep a found diamond.
What happens if you find gold on your property?
But reports such as these beg the question: when finding gold and other minerals, are they yours? Gold and most other minerals are the property of the Crown, and therefore, unless you have an additional right to the gold or other mineral, you cannot keep it.
How are mineral rights passed down?
Understanding Your Inheritance In many situations, an owner from a previous generations splits mineral rights ownership among his heirs, with each owning a percentage. Sometimes oil companies contact heirs when they find out the mineral rights have transferred to them and ask them to sign a lease.
What does it mean when seller retains mineral rights?
Hence, mineral rights. Also known as a mineral estate, mineral rights are just what their name implies: The right of the owner to utilize minerals found below the surface of property. Besides minerals, these rights can apply to oil and gas. Interestingly, mineral rights can be separate from actual land ownership.