California Real Estate Broker ExaminationPropertyEasy
A landowner holds the rights to extract oil and gas from beneath their property. These specific rights are known as:
- AMineral Rights
- BSurface Rights
- CAir Rights
- DWater Rights
Show answer & explanationAnswer & explanation
Correct answer: A. Mineral Rights
Mineral rights refer to the ownership of the minerals (such as oil, gas, coal) located beneath the surface of a property. These rights can be sold or leased separately from the surface rights.
Why the other options are wrong
- B. Surface rights refer to the rights to the land's surface and anything attached to it.
- C. Air rights pertain to the space above the surface of the property.
- D. Water rights pertain to the use of water flowing through or adjacent to a property.
Mineral Rights
The ownership of the minerals, such as oil, gas, and coal, found beneath the surface of a property.
- Can be severed and sold separately from surface rights.
- Often include the right to access the surface for extraction.
- Are considered real property.
Memory trick: The 'bundle' holds all your property rights.