Property Ownership

In New York, 'mineral rights' can be separated from surface rights, meaning:

AThe surface owner always owns all minerals below

BThe owner of mineral rights may have the right to extract minerals from the property even if they do not own the surface✓ Correct

CMineral rights belong to the state automatically

DOnly oil and gas rights can be separated

Explanation

In New York (and generally in real property law), mineral rights can be severed from surface rights and separately owned or transferred. The owner of mineral rights may retain the right to access and extract minerals, subject to surface use agreements.

People Also Study

Key Terms to Know

Joint Tenancy

Co-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.

Tenancy in Common

Co-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.

Right of First Refusal

A contractual right giving a party the opportunity to match any offer received before the owner can accept it from a third party.

Deed

A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).