Legal Definitions - mineral interest

Definition: A mineral interest is the right to explore, extract, and sell minerals from a piece of land or to receive a share of the profits from mineral production. This right is typically granted through an oil-and-gas lease.

For example, if a company leases mineral rights to a piece of land, they have the right to search for and extract oil or gas from that land. The landowner may receive a percentage of the profits from the sale of those minerals.

Another example would be a landowner who retains the mineral rights to their property. They may choose to lease those rights to a mining company, allowing the company to extract minerals in exchange for a royalty payment.

These examples illustrate how a mineral interest grants the holder the right to profit from the extraction and sale of minerals from a piece of land.