It pays to understand how you can go about selling mineral rights and still hold on to your property.
If you feel that there is gold or oil or even gas, copper, coal or other minerals on your property you can earn a decent income by allowing a company to purchase the mineral rights on your land.
But, first you need to ensure that there is in fact mineral content present and in order to find out its presence you will need to get a geological survey done on the property.
Next, it is necessary to separate different minerals that are evident on your land and you should also think seriously about how to go about selling mineral mining rights to a company.
Often, it pays to research the royalty company you wish to deal with.
You may want to consider having an attorney when drafting the agreement and good legal counsel should be able to help you out particularly in regard to lease period.
In some areas, before creating the lease document it is necessary to obtain clearance from your area Environmental Protection Agency who must issue a report of the impact on the environment should you lease out the property.
You should also ask about getting a bonus for signing up as this is a very competitive field, there are several companies that will offer bonuses.
Make certain that you are in complete knowledge and agreement with the royalty company regarding the payout and when the payout will occur.
The more reputable companies will not hesitate to give you exact amounts and exact dates.
All in all, it helps if you learn about all the different ways in which you are able to handle the mineral rights.
One option is to sell your property but hold on to mineral mining rights.