The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

MINERAL LEASE Definition & Legal Meaning

Definition & Citations:

In exchange for predetermined compensation, this is a specific type of lease arrangement between an entity and a property owner. It grants the entity the rights to explore to determine if minerals are present and, also, to extract minerals, like iron, copper, oil, or even natural gas, from the leased property.


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