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Who is entitled to the bonus on the lease of mineral rights in a life estate the life tenant or the remainderman?

The life estate normally gives the individual the rights to all the benefits of the land until their death. That would include any bonuses or other income generated by the property.


Who is at fault when an oil and gas company leases the mineral rights from a person that doesn't own the mineral rights?

This is a pretty common occurrence in the oil and gas industry. The fault lies with the oil and gas company for doing faulty research. Depending on the language in the lease (warranty), the oil company may have a right to a 'refund' if the mineral owner accepted bonus money. The answer would depend on your specific situation, the state in which in mineral rights are located and the language on the lease. If you need specific answers you can ask at louisianaenergy.ning.com


How do you get paid if you own mineral rights?

The only way to make money from your mineral rights is if an oil company wants to lease them to drill and then you make more money if they drill a producing well or if you sell them. The company leasing the mineral rights will arrange payment, usually by check, depending upon the lease agreement which is signed by the owner of the mineral rights and the leasing company.


In a divorce when the man gets usufruct of the property and the the wife gets half mineral rights who has control of the mineral rights as to how much will be collected?

The wife would have the right to grant mineral lease, receive bonus/rental money & potential royalties on her undivided 50% interest and the husband could do same with his 50% interest. The rights are owned separately and each party can do as they wish.If the usufruct is over the mineral rights and not only the surface, the situation would be different. If need more information, visit me at louisianaenergy.ning.com


Is the landowner entitled to the lease bonus payment on an oil and gas lease?

Not if you only own the surface and you don't own the minerals or mineral rights. You would be entitled to damages to the land though. I am a buyer of mineral rights or minerals in North Dakota, Colorado, Oklahoma, Texas, Wyoming and other states. Call or email me before you sell or if you need any help. Tim Metz Telephone #580-227-2456 email address: tm59707@classicnet.net


Should I lease my mineral rights?

No one can answer that question for you unless they know all your details, the extent of your real estate holdings, the area where the land lies, the economics of mineral rights in your area, etc. You need to consult with an expert in your area, possibly a law firm that specializes in representing owners of land in regards to real estate law and mineral rights.


How do you report money received as a oil lease bonus?

Payment received for signing an Oil and Gas Mineral lease should be reported as "Ordinary Rental Income" on Schedule E. This is ordinary income that flows from Schedule E to Form 1040, line 17. this is important because it prevents the need to also pay "Self Employment" taxes on the bonus income received.


If you sell land but retain a half interest in the mineral rights is the land owner obligated to contact you if he leases the land for drilling?

Yes. In addition, the company should perform a title examination before signing a lease to determine the legal owner of the land. The title examination will reveal your mineral rights and the drilling company should contact you.Yes. In addition, the company should perform a title examination before signing a lease to determine the legal owner of the land. The title examination will reveal your mineral rights and the drilling company should contact you.Yes. In addition, the company should perform a title examination before signing a lease to determine the legal owner of the land. The title examination will reveal your mineral rights and the drilling company should contact you.Yes. In addition, the company should perform a title examination before signing a lease to determine the legal owner of the land. The title examination will reveal your mineral rights and the drilling company should contact you.


If you do not own your mineral rights can a company lease them and drill on your property?

no. if you own the surface rights they cannot have a road, tanks, pump, or road with out your approval.


How long does a mineral deed last?

A mineral deed can last indefinitely, as it transfers ownership of the mineral rights from one party to another. There is no specific expiration date stated in a mineral deed, so it remains valid until it is legally transferred again or released.


Is an oil lease bonus a capital gain?

No it would be rental income.


Does a person on a lease have rights to the home if they have moved out and been gone over 30 days?

If their name is on the lease, yes, they have some rights in the property. If they are not named on the lease, no.