In Alaska, subsurface mineral rights including oil and gas may be owned separately from the surface estate. This separation is called:
Why Severance of mineral rights from surface rights Is Correct
Answer B: Severance of mineral rights from surface rights
Exam Tip: Property Ownership
Property ownership questions test the bundle of rights and different forms of ownership. Know the differences between joint tenancy, tenancy in common, and community property, including the right of survivorship.
Key Property Ownership Terms in This Question
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Key Terms to Know
The power of government to take private property for public use, with the requirement to pay the owner just compensation.
Tenancy in CommonCo-ownership where two or more people hold undivided interests that need not be equal and pass to each owner's heirs — no right of survivorship.
Joint TenancyCo-ownership where two or more people hold equal, undivided interests with the right of survivorship — when one owner dies, their share passes to the surviving owners.
Right of First RefusalA contractual right giving a party the opportunity to match any offer received before the owner can accept it from a third party.
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