In NC, a 'mineral rights' reservation in a deed means:
Why The grantor retains ownership of minerals (oil, gas, coal, etc.) below the surface while conveying the surface rights Is Correct
Answer B: The grantor retains ownership of minerals (oil, gas, coal, etc.) below the surface while conveying the 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
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Transfer TaxA tax imposed by state or local governments when real property ownership is transferred, typically based on the sale price.
EasementA non-possessory right to use another person's land for a specific purpose.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
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