What are interactual property rights?

What are the pros and cons of having mineral rights on a piece of land legally distinct from the property ownership itself?

• I know that the laws vary a lot by state. In Louisiana apparently (and perhaps other states), if the property isn't in some way being utilized within a certain amount of time, the mineral rights revert back to the property owner. For this reason, some dry wells are intentionally constructed. In Texas however, there is no such requirement and they aren't taxed like property, so the minerals and properties are often owned by different people and mineral rights can at times be tranched into many pieces due to inheritance. This seems excessively complex without providing much real value to society or creating proper incentives. Would it not make sense to work towards eliminating this distinction under certain conditions (obviously you wouldn't want a company to buy up land in a populated area solely for the rights of oil or natural gas far away from the well)? In addition, the method to do so would be very important naturally so that people aren't merely robbed by the state. I'm eager to hear any thoughts on the issue and to modify my question accordingly if there are any major inaccuracies or misunderstandings listed above.

• Answer:

  Three comments: One: If Texas tried to move to a system in which m... You must be signed in to read this answer.Connected to GoogleConnected to FacebookBy continuing you indicate that you have read and agree to the .  Loading account...Complete Your ProfileFull NameChecking...EmailChecking...PasswordChecking...By creating an account you indicate that you have read and agree to the .