Property Ownership
In Mississippi, when a property owner sells their property while reserving an oil and gas royalty interest, they have created what type of ownership situation?
AA life estate in the mineral rights
BA severance of the mineral estate from the surface estate✓ Correct
CA joint tenancy in the mineral rights
DAn easement for mineral extraction
Explanation
When mineral rights are retained by the seller (or previously conveyed to a third party), the mineral estate is severed from the surface estate. The surface and mineral estates can be owned by different parties and transferred separately.
Related Mississippi Property Ownership Questions
- A Mississippi deed must contain which of the following to be valid?
- An easement in gross in Mississippi is a personal right that:
- In the government survey system, a township contains how many sections?
- A Mississippi property that is subject to a 'lis pendens' recorded against it:
- A Mississippi real estate contract calls for a 'metes and bounds' legal description. This means the property is described by:
- A Mississippi property owner dies intestate (without a will). The property will pass according to:
- The ALTA/NSPS (American Land Title Association/National Society of Professional Surveyors) Survey is requested in Mississippi primarily for:
- A Mississippi property owner grants a 'right of first refusal' to a neighbor. This means the neighbor has the right to:
Practice More Mississippi Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Mississippi Quiz →