When it comes to Texas property, the term "fraction" can have a few different meanings. In general, a fraction is simply a numerical value that represents a part of something whole. However, in the context of Texas property law, the term "fraction" can specifically refer to the amount of minerals (such as oil and gas) a landowner owns in relation to the minerals present on their land.
Under Texas law, all landowners have the right to exploit the minerals on their property. However, they do not necessarily own all of the minerals outright. Instead, they typically own a "fraction" of the minerals. The most common fractions are 1/8 and 1/16. This means that the landowner owns 1/8 or 1/16 of all of the minerals on their property, respectively.
Mineral Rights Fractions
If you live in Texas or are considering purchasing land in Texas, it's important to understand the state's mineral rights laws. One key concept is the "fraction" of a fraction doctrine.
Under this doctrine, when someone owns "half the minerals," they actually only own 1/16th of all the minerals on the property. This is because the minerals are owned in fractions, with the most being 1/4, then 1/4 being further divided into smaller fractions.
The fraction of a fraction doctrine is important because it allows landowners to keep track of how much of the minerals they are entitled to, even if they are extracted by someone else. This is especially important in Texas because many landowners lease their land to oil and gas companies for mineral extraction.
The fraction of a fraction can be confusing for people unfamiliar with Texas' mineral rights laws. However, it's important to understand the concept to know what you're buying when you purchase land in Texas.