Mineral Interest
Ownership of the oil, gas, and other minerals beneath a tract, including the right to lease them and earn royalty or bonus income.
A mineral interest is the ownership of the minerals beneath the surface of a tract — oil, gas, and often other substances depending on the deed. It is real property, separate from the dirt on top. The owner can sell it, lease it, will it to heirs, or hold it and collect income.
A full mineral interest carries several rights: the right to explore and develop, the right to lease (the executive right), the right to bonus and delay rentals, and the right to royalty. These rights can be split apart and owned by different people, which is why title work matters before any purchase.
For a plain-English walkthrough, see our guide on what mineral rights are.