Property OwnershipIntermediateNorth Carolina Exam

Mineral rights in North Carolina may be:

AOwned only by the surface owner

BSevered from surface rights and sold separatelyCorrect

COwned only by the state

DAutomatically included in any deed, in most cases

Why Severed from surface rights and sold separately Is Correct

Answer B: Severed from surface rights and sold separately

Mineral rights can be severed from surface rights and sold or leased separately, meaning the surface owner and mineral rights owner may be different parties.

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

Deed

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

People Also Study

Key Terms to Know

Deed

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

Deed of Trust

A security instrument used in many states instead of a mortgage, involving three parties: borrower (trustor), lender (beneficiary), and a neutral trustee.

Easement

A non-possessory right to use another person's land for a specific purpose.

Encumbrance

Any claim, lien, charge, or liability attached to real property that affects its value or limits its use.