A Texas property owner grants an oil company the right to drill on their land. This is called:
Correct Answer
B) A mineral lease
A mineral lease grants the right to explore and extract oil, gas, or other minerals from the property.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
A leasehold estate grants the right to possess and use property for a defined period of time, without conferring ownership.
Real property is immovable land and anything permanently attached to it, while personal property (also called chattels) is movable.
A freehold estate conveys ownership rights, while a leasehold estate grants the right to possess and use property for a specific period without ownership.
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