What are Surface Rights?
Posted On behalf of Simien & Simien on Jul 01, 2015 in Oil And Gas
The United States is currently undergoing an energy industry explosion. New technologies have developed that allow more efficient methods for extracting gas and oil from the ground. These technologies also allow drilling in places unable to be reached before.
While this may be fantastic news for the oil and gas industry, it may not be great news for homeowners.
Do you have questions about surface rights? Are you embroiled in a surface rights claim dispute? Our experienced oil and gas attorneys can help you determine your legal rights and options.
For a free claim review, fill out the form to your right or call (800) 374-8422.
What Are Surface Rights?
Most homeowners are unaware of the fact that they have purchased a home with only surface rights. In fact, most people do not find out what surface rights are until they discover that a gas and oil company will be drilling under their home and that they not only have no say in the matter, but they will also not receive any compensation for the oil or gas extracted from the property.
Surface rights are defined as the homeowner only having rights to the property that is located on the surface. This means that if any type of mineral, oil, gas, water, or other consumable is found underneath the surface of their property, they have no rights to receive compensation or prevent drilling.
Unknown to many home buyers, the builder who sold them their home has severed the mineral rights of the property. The developer then retains the mineral rights, and if any precious consumables are found, they have the authority to allow drilling and to receive compensation.
Why You Should Hire An Attorney When You Purchase A Home
Because the oil and gas industry is undergoing explosive growth, it is very important for anyone purchasing a home to consult with an attorney about the purchase agreement.
In a recent study, over 90 percent of homeowners willingly admit that they would have never thought of mineral rights when they purchased their home, they just assumed they owned the land. Later, these same homeowners faced harsh legal battles against oil and gas companies to prevent drilling or to demand compensation.
If you have already purchased a home and are facing a legal battle against an oil company, or you recently discovered that your mineral rights were severed without your knowledge, it is important to contact an oil and gas lease attorney to protect your rights.