He also said that the current law allows a company to conduct exploration activities if it holds one-third of the mineral rights in an area. (2) If a ward who does not have a duly appointed and qualified guardian of his estate under the laws of Mississippi has a mining interest in real property in the State and an offer is made to lease the mining interest on the terms of initial consideration or a premium of not more than two thousand dollars ($2,000.00), A principal term of not more than five (5) years, a determination of the royalty of at least one-eighth (1/8) of the petroleum that may be produced from the mineral interest and reasonable royalty arrangements for all other minerals, an application may be filed with the District Residence Chancery Court or the Chancery Court where the mining interest is located to seek approval and authorization sign the lease. The motion shall be brought by the municipality by his closest friend, and he must join the parties provided for in article 93-13-281 as defendants, or the parties referred to in article 93-13-281 may join the municipality in the petition and unite with it. Mississippi`s oil and gas mineral rights have been productive since October 1926 with the drilling of Amory Petroleum Company #1 Carter. Mississippi`s minerals also include a wide range of hydrocarbon products, including crude oil, natural gas, NGLs, CO2 and coal. The first field discovered in Mississippi was Amory Field in Monroe County. The best counties are Jasper County, Jefferson Davis County, and Lamar County. The service said landowners should determine ownership of minerals through a title search, as they may not realize they don`t own the minerals underground. McGehee, for example, said that in some cases, a great-grandfather may have sold mineral rights to land without his family members knowing. People don`t generally consider Mississippi a major producer of oil and other minerals, but according to Oil and Gas Mineral Services, the state has 16 major oil and gas deposits. To be eligible for financial compensation for oil and minerals extracted, you must own ownership rights. When a person buys land, the seller often retains their mineral rights and sells only the surface rights to the buyer. Those interested in verifying ownership of mineral rights should go to the county courthouse to check the property card at the local clerk`s office.
(3) A lien under this section is not effective against a third party until such a financing statement proving that lien is filed in the same manner as financing statements proving security rights in minerals in accordance with the provisions of section 75-9-501. However, Weathersby said his family could not find a deed in the Simpson County courthouse. which shows where someone has the mineral rights on their property. Yes, they own the land, but not necessarily the mineral rights underneath. 8. Nothing in this Section shall be construed as extending or reducing the rights and obligations imposed by contract or otherwise by law on interest owners, royalty holders, paying agents, first-time purchasers or operators. The sole purpose of this Section is to grant licensees a privilege under the terms and conditions set forth herein. If you do not own the mineral rights to your property, you cannot profit from oil or mineral extraction. Bernell McGehee of Liberty, who has researched mineral rights and oil and gas exploration in the state, said Mississippi law allows for the separation of mineral rights and land ownership. Weathersby said some landowners were initially in favor of allowing oil and gas exploration on their property, but some of them pulled out because they feared possible damage to their property and after learning they didn`t own the mineral rights.
Analyze the title deed. In Mississippi, the information on the deed indicates whether the seller of the property sold the mineral rights with the surface rights. “We believe this is an attempt by a private company to usurp the property rights of the small owners of Piney Woods in downtown Mississippi,” Weathersby said. Hire a lawyer to inspect the property if you can`t determine who owns the mineral rights. If a previous owner has cut surface and mineral rights to a property, a lawyer may be required to audit all owners of mineral rights. Inheritances can divide ownership of mineral rights among several owners. Mississippi Legal Services can help you find a lawyer. 1. If it is in the interest of a ward, the guardian of such ward is hereby authorized to lease and grant oil, gas and other mineral rights against payment of an annual lease and/or royalty or part or part or part of the production on such terms and for such term as are in the best interest of the estate of his ward. An application to that effect must be filed with the registration court setting out the reasons for the conclusion of such a lease and the benefits derived therefrom, and a summons to appear is issued in accordance with article 93-13-281 for the close relatives of the ward. If the proceedings have been duly served, the court, during his term of office or the clerk on leave, shall consider the allegations and evidence presented by the guardian, as well as the objections and evidence of persons who may appear and lodge objections.
If, at the hearing, the court is satisfied that the interests of the ward are furthered by a lease as provided for in this Regulation, it may authorize the tutor to enter into such a lease on behalf of the ward and to determine the terms of the lease, and may require the tutor to pay an additional security deposit if necessary. to offset the proceeds of the lease in good faith. The notification of close relatives provided for herein must be made at least ten (10) days before the hearing of the Registrar on the application. In the event that the next of kin of the community joins the petition under section 93-13-281, the notice and summons provided here are not required and this matter will be dealt with ex parte. Roundtee`s attorney, Jeffrey Trotter, said Mississippi law gives companies the right to seek mineral rights if they own them, but he said landowners have denied and continue to deny access to plaintiffs. Visit the office of the local clerk of the Mississippi Chancery. If you do not have access to the title deed, call the county clerk to schedule an hour of inspection of the county property records. In Mississippi, the law firm`s law clerk keeps property records for the county. Money in jail: Man convicted of drunk driving in wife`s death can receive his government benefits for life Roundtree and Associates, a Ridgeland-based oil and gas producer, and Southwest Energy Inc. filed the motion for an injunction.
(d) “payer” means the person who, under an oil and gas lease, operating agreement, contract of sale or otherwise, assumes responsibility for the payment of royalties arising from the oil and gas production of a well to the licensee(s) legally entitled to do so. A first-time buyer is not considered a payer unless the original buyer expressly assumes this responsibility in the purchase agreement. However, the court order does not contain anything about property damage. Shoemake has not yet scheduled a hearing on the applications. “However, the law is clear: plaintiffs have the right to intervene,” Trotter said in court documents. The court order required companies to post a total security of $5,000 for any costs or damages that landowners might incur if the order was lifted. 5. In the event of a conflict between a lien under this Division and a security right under Chapter 9 of Title 75, the lien or security right to be registered first prevails.
The privileges provided for in this section have priority among themselves according to priority at the time the privileges are deposited. Ronald Weathersby`s family of Los Angeles owns about 400 acres in the area. (c) “Licensee” means any person who has an interest in the Production, but who is not an owner within the meaning of Article 53-1-3(g). Another landowner, Noley Parker, 75, said she returned to her parents` home in 2011 after her husband died at age 48 in 2011. 7. This Section shall not affect the right of an operator to set off or withhold funds of other interest holders as security or in payment of debts or securities. Nothing in this Division affects the right of a disbursement agent to withhold funds if an issue arises regarding ownership or ownership or the right to sell oil or gas production.