West Virginia mineral rights can be:
Correct Answer
B) Severed and sold separately from surface rights
In West Virginia, mineral rights (coal, oil, gas, etc.) can be severed from surface rights and sold or leased separately. This is common in the state due to its coal mining and natural gas history. Buyers should verify mineral rights status.
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Related Topics & Key Terms
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Related Concepts
Condominium ownership involves owning a unit of airspace within a multi-unit building plus an undivided interest in the common elements shared with other unit owners. Each unit is separately taxed and financed.
In a cooperative (co-op), the building is owned by a corporation, and residents purchase shares of stock in the corporation that entitle them to a proprietary lease on a specific unit. Residents are shareholders, not property owners.
Fee simple absolute is the highest and most complete form of property ownership, giving the owner unrestricted rights to use, possess, enjoy, and dispose of the property. It is of unlimited duration and fully inheritable.
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