If you are thinking about purchasing land in Texas to start up your own hobby farm, you need to be aware of the state's mineral rights laws. While you might not entirely know how these laws can affect you, having all of the information possible when buying land will be essential to making the process successful.
In Texas, the surface of the land, and what is beneath, are two separate legal interests that can be severed over the course of a sale. So, if you are looking to buy a piece of land and want to harvest the natural minerals that are underground, you will need to purchase both the surface estate and the mineral estate underneath.
Frequently, a landowner will sell off the surface land, only to retain the mineral rights to the natural resources that are beneath. If the mineral estate is not explicitly mentioned in the terms of the overall sale, then it legally passes to the buyer when the sale is completed.
When it comes to the rights that are protected with these kinds of land deals, the mineral estate is dominant to the surface estate. This means that the land on the surface exists solely for the benefit of the person who owns the mineral land underneath, and legal rights and protections are granted to whoever owns the natural resources of the land.
If you have further questions about mineral rights in the state of Texas or need financing in order to purchase a tract of land, be sure to contact a loan officer from Heritage Land Bank today.