Ownership rights to water, minerals, and oil beneath a property are referred to as what?

The correct term for ownership rights to water, minerals, and oil beneath a property is subsurface rights. This refers specifically to the legal entitlement of the property owner to control and benefit from the resources found below the land's surface.

Subsurface rights can include a variety of natural resources, such as coal, natural gas, gold, and other minerals, as well as water sources that lie beneath the surface. These rights are distinct from surface rights, which pertain to the ownership and use of the land itself and anything on it, such as buildings and crops.

In real estate transactions, it’s important to clarify whether subsurface rights are included in the sale of the property, as these rights can be transferred separately, leading to different ownership scenarios. This distinction can have significant implications for the value and use of the property, especially in areas rich in natural resources.

Understanding subsurface rights is crucial for buyers, sellers, and real estate professionals, as it plays a vital role in land use, environmental considerations, and economic opportunities associated with resource extraction.