What every Real Estate Agent should know when selling land and Mineral Rights.

  1. The right to enter upon the surface for the exploration and production of the minerals (or to designate a third party to do so);
  2. The right to lease or sell the mineral rights, in whole or in part;
  3. The right to up front cash for any lease granted (a “bonus”);
  4. The right to a rental (periodic fixed payment) for any lease granted (a “delay rental”); and
  5. The right to a percentage of the minerals ultimately produced (a “royalty”).

Source: Jack Wilhelm, Wilhelm Law