Or are they an easement on real property?Or are they chattel property? (what‘s chattel property?)
It is real property. You own all the air above it, and all the ground below it all the way to the core of the earth (technically speaking). You also own the mineral rights to your property.
Real property in the sense that you are asking, is that land which is described in a deed or entitlement. It includeds anything which is attached to and made a part of the land described in that dead. As such, until it is mined or somehow defined as ore, it is simply dirt. But, once it is mined or somehow defined as an ore and distict from the land it becomes a chattel. Something which sits upon the land but is not a part of it. Like the garden furniture. An easment is a RIGHT upon the land of another so it does not apply in this case unless you are referenceing the right to mine the ore ok?
Mineral deposits are chattel property. They can be - and often are - bought and sold independently of the real property itself -i.e. the land they lie under. Chattel property is anything except land and improvements to it (buildings, etc), that can be bought and sold. The sale of mineral deposits independently of the land will generally produce an easement on the land to allow the mineral rights owner to exploit his mineral rights. Watch the TV series Black Gold to see some of the ongoing arguments and fights between oil rig operators drilling for oil on property where the rig operator owns (or leases) the mineral rights, and the landowner owning the real estate the oil is under. Richard
It is real property. You own all the air above it, and all the ground below it all the way to the core of the earth (technically speaking). You also own the mineral rights to your property.
Real property in the sense that you are asking, is that land which is described in a deed or entitlement. It includeds anything which is attached to and made a part of the land described in that dead. As such, until it is mined or somehow defined as ore, it is simply dirt. But, once it is mined or somehow defined as an ore and distict from the land it becomes a chattel. Something which sits upon the land but is not a part of it. Like the garden furniture. An easment is a RIGHT upon the land of another so it does not apply in this case unless you are referenceing the right to mine the ore ok?
Mineral deposits are chattel property. They can be - and often are - bought and sold independently of the real property itself -i.e. the land they lie under. Chattel property is anything except land and improvements to it (buildings, etc), that can be bought and sold. The sale of mineral deposits independently of the land will generally produce an easement on the land to allow the mineral rights owner to exploit his mineral rights. Watch the TV series Black Gold to see some of the ongoing arguments and fights between oil rig operators drilling for oil on property where the rig operator owns (or leases) the mineral rights, and the landowner owning the real estate the oil is under. Richard
