Is Your Title Clean?
You buy a house and the property around it, but do you necessarily own what is underneath the ground? In most urban areas this most likely won't ever be an issue, but in some parts of the country where they might find oil, coal or some other valuable mineral, it can affect property and homeowners.
Can You See the Oil Pump nicely camoflouged?
When you "buy" a home and the property it sits on, you want to be sure that the mineral rights are also included or have not been separated from the property. If you are using a Real Estate Agent, they will do a Title Search on the property to make sure that the property has a "Clean Title." This means that the property is free and clear of any liens or judgements that could possibly carry over to the "New Owner" or Buyer. During this time, it is also important, especially in areas known to produce or having produced Minerals, oil or other valuable materials that the title does not have any encumbrances such as a contract for minerals or other subterranean valuables such as natural gas or oil. If the property did have a contract, you or the Real Estate Agent would want to make sure that those contracts were properly released and filed with the Local County Recorder's Office.
On a side note, when you do buy a property, you also own the air above your property. No, it is not time to sue the Airlines for flying over your "Air space." As a property owner you can only claim the "Air space" above your property that you could "reasonably use." Then even if you decided to build a "Tower of Babel," you will still be limited by your local county and city building ordinances to how many floors you can add.
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Picture Sources:
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Resources:
https://www.landcentury.com/articles-news/conveying-of-all-rights-and-interests-when-buying-a-property/
http://normwerner.realtytimes.com/advicefromagents1/item/28220-first-time-buyers-what-are-mineral-rights-should-i-be-concerned-about-them-when-i-buy
http://homeguides.sfgate.com/mineral-rights-property-7961.html
http://www.zillow.com/blog/do-you-own-the-air-above-your-home-143915/