Depletion refers to a non-cash deduction that accounts for the reduction in value of an income-generating natural resource, such as minerals, oil, gas, or timber.
A Mineral Deed is a legal document used to transfer mineral rights from one party to another. This can include the right to explore, extract, and sell the minerals found beneath the surface of a property. Mineral Deeds can significantly impact property rights, land value, and taxation.
A Mineral Lease is an agreement that grants the lessee the right to excavate and sell minerals or remove and sell petroleum and natural gas from the lessor's property in return for royalty payments.
A Mitigation Land Bank is a program designed to preserve environmentally sensitive natural land areas, including wetlands. The program is overseen mainly by the U.S. Army Corps of Engineers and the U.S. Environmental Protection Agency (EPA). Owners are required to set aside key portions of sensitive land, either on the development site or nearby, and they can sell credits to developers needing to offset the environmental impact of their projects.
A riparian owner is an individual or entity that holds ownership of land that is adjacent to a river, stream, or other body of water. Riparian rights are often a significant aspect of property ownership and can influence land use, access, and water resources.
Royalty refers to the payment made to a property owner for the extraction of valuable resources from their land. Common in resource extraction industries like mining, oil, and gas, these payments are typically a percentage of the revenue generated from the resource.
Usufructuary rights refer to the legal right to use and enjoy the benefits of someone else's property without owning it. These rights are often pertinent to natural resources like water or land.
