Property owners in the United States need to protect their mineral rights in order to have a good source of income. The term "mineral" not only encompasses gas, oil, coal and its derivatives, but also ores, metals and non-metals. However, property owners gain more wealth from gas and oil royalties than other minerals. There are few things to consider before drawing up a lease agreement with the oil and gas company. Here are few important tips to remember before leasing mineral rights to the concerned company:

• Before you take advantage of your mineral rights, it would be advisable to conduct a geological analysis of your property. With the help of an expert geologist, you can easily conduct a survey to locate the exact location of the minerals. This will help you ascertain an approximate value of your oil and gas royalties.

• Once you have a rough estimate, you can consult an expert oil and gas attorney regarding federal and state laws regulating oil and gas issues. This will help you to draw a correct lease agreement with the oil and gas companies. Make sure you are well aware that your mineral lease rights are transferred on a temporary basis. It is advisable to verify the credentials and experience of the oil and rights company.

• Besides gas and oil royalties you will also be entitled to get bonus payment, so better analyze the financial capabilities of the company.

• Always seek your attorney's advice before filling the lease form. The form will mention all about default rentals as well as clauses in terms of extension of the lease period.

Your lease agreement guarantees oil and gas royalties in cash. However, you can opt to receive oil from the firm and market for profits. Most individuals lease their mineral rights for cash; some even go further by selling gas and oil royalties to convert their stream of income into lump sum payment. The procedure is hassle free and assures lump sum cash offers within a few weeks. There are few dedicated companies that provide a quick cash settlement and turnaround on your oil and mineral rights.

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