Mineral Interest Law and Legal Definition
Mineral Interest refers to a possessor’s interest over the minerals buried in the property. An owner of a mineral estate is entitled to the right to develop, lease, receive bonus payments, receive delay rentals, and receive royalty payments. The possessor shall have the right to develop the minerals by exploration, drilling, production, transportation, storage, and marketing. However, such rights will persist only through the life time of the possessor.