The five elements of a mineral right are:
- The right to use as much of the surface as is reasonably necessary to access the minerals
- The right to further convey rights
- The right to receive bonus consideration
- The right to receive delay rentals
- The right to receive royalties
The owner of a mineral interest may separately convey any or all of the above-listed interests. Minerals may be possessed as a life estate, which does not permit a person to sell them, but merely that they own the minerals so long as they live. After this, the rights revert to a predesignated entity, such as a specific organization or person.