The Pros and Cons of Selling Your Mineral Rights

The United States of America is the only country that allows for the ownership and selling of mineral rights by individuals. If an individual owns property and did not previously convey mineral rights to another person, they own the rights. This is an asset that many people choose to lease or sell in order to be financially awarded for a resource they otherwise of little use for. However, there are several factors to consider in choosing between leasing or selling mineral rights.

Leasing mineral rights involves an oil and gas company offering financial compensation upfront and providing royalties for the resources the land produces over the time of the contract. These payments can fluctuate over time depending on the production yield of the land.

The Pros of Leasing:

  • Retention of ownership of the rights
  • Bonus payments for signing a leasing contract
  • Continuous royalty payments

The Cons of Leasing:

  • Risky

There’s substantial risk involved in leasing mineral rights. The oil company controls when drilling occurs and there is no guarantee that the land will be fruitful in minerals. Oil and gas prices may also fluctuate and effect royalty payments.

Selling mineral rights is less risky than leasing mineral rights. The simpler process involves the oil and gas company evaluating the property and potential yield before making an offer.

The Pros of Selling:

  • Money on the spot
  • Less risk
  • Little paperwork

The Cons of Selling:

  • No more rights
  • No continued payments

Selling your mineral rights will give you a large lump of cash. There is no risk assumed to you as would be the case when leasing mineral rights. If the land does not produce as the oil and gas company hoped, the repercussions are not the seller’s responsibility. However, if the land is profitable, the lump sum received may be less than if the seller had leased and received royalties.

According to the website of The Mineral Auction, other pros of selling to consider include capitalizing on the current boom in oil, favorable tax savings, and a strong investment in non-depleting assets. If you are interested in leasing or selling your mineral rights, contact a mineral broker in your state.

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The 8 Worst Cruise Ship Experiences

Cruises are considered to be one of the most relaxing forms of vacation options to choose from. The hotel and entertainment is all held on the single vessel and the exotic travel destinations are conveniently at your front door each morning. However, these relaxing cruise ships are also notorious for the nightmares they can quickly become. From pirates, to engine failure, to icebergs, there are eight front runners in cruise ship disasters.

The Carnival Triumph was nicknamed the “Poop Cruise” because of the unfortunate engine fire that caused the septic system to malfunction. The scheduled four-day Caribbean adventure turned into an eight-day nightmare leaving passengers stranded in the Gulf of Mexico without power or air conditioning. A few years before that, the passengers on the Carnival Splendor were in a similar situation in the Pacific Ocean.

On the other side of the world, the Italian cruise ship Costa Concordia hit a reef off the coast of Tuscany, Italy in January 2012. The collision caused the ship to tip over, injuring 64 people and killing 32. The clean-up of the accident took several months to complete.

Seaborn Spirits met a nefarious fate when Somalian pirates attacked the cruise ship with machine guns and grenade rocket launchers. Fortunately, none of the 300 passengers were injured before the captain was able to outrun the attackers.

Illness is another common injury due to the close proximity of the passengers on a cruise ship. The Celebrity Mercury found itself in a norovirus outbreak in 2010. More than 400 out of the 2,600 passengers and crew fell ill with widespread vomiting and other gastrointestinal symptoms.

Weather conditions cannot always be predicted or avoided as in the case of the Norwegian Dawn. The cruise ship fell victim of a 70-foot wave that caused at least 62 of its cabins to flood. Several hundred of the passengers disembarked the vessel before the final stop once the storm had passed.

The S.S. Eastland and famous RMS Titanic are some of the oldest and most deadly cruise ship accidents ever to occur. The S.S. Eastland lost more than 840 of its 2,500 passengers when the ship rolled over while still in port in Chicago. This occurred only three years after the “unsinkable ship” met its fate in the North Atlantic in 1912. More than 1,500 men and women died after the RMS Titanic struck an iceberg on its maiden voyage.

According to the website of the Louis A. Vucci cruise ship injuries are some of the most serious due to the massive size of the vessel and the potential physical and emotional damages an incident could cause. If you were injured or suffered damages due to negligence on a cruise ship, discuss your legal options with an attorney in your state to receive the compensation you deserve.

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Rollover Car Accidents

According to the National Highway Traffic Safety Administration, more than 280,000 rollover accidents occur annually. Rollover accidents are some of the most violent and complicated car accidents, causing about 10,000 deaths each year. These types of incidents include several factors: the type of vehicle, the environment, behavior of the driver, and road conditions.

It is reported that 90 percent of fatal, single-car rollover accidents are due to poor driver behavior. This suggests that distraction, alcohol impairment, or speed were critical factors that lead to these crashes. A Detroit car accident lawyer may tell you that drunk drivers are capable of seriously injuring other drivers on the road due to their negligent behavior. This includes harming and possibly killing an innocent individual by involving a second party in a rollover accident.

Speeding and reckless driving are other leading causes of rollover accidents. According to the website of the Sampson Law Firm lists these impairments when an individual decides to speed:

  • Decreased reaction time
  • Poor visibility
  • Increased chance of collision
  • Decreased ability to brake
  • Decreased ability to maneuver the vehicle

There are currently no federal standards for automobile manufacturers to prevent rollover accidents. A rollover rating system was released in 2001 that gives one to five stars to a vehicle in order to inform drivers about the likelihood of the make of the vehicle to cause a rollover. A five star rating means the rollover risk is less than 10 percent while a one star rating equals a greater than 40 percent risk of rollover. Cars that are more likely to roll over are therefore more expensive to insure.

While many rollover accidents are fatal, there are also severe injuries that can occur. These include bone fractures, brain injury, and spinal injuries that are capable of causing permanent health issues. If you’ve been a victim of a rollover accident, contact your local car accident lawyer to find out if your entitled to any compensation.

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Common Forms of Identity Theft

Identity theft is a serious crime that the U.S. Department of Justice made illegal in 1998. The criminal act consists of an individual illegally obtaining and using another person’s personal data. These cases of fraud and deception are generally used for economic gain, leaving the victim with severe financial damages.

Many people believe they are only at risk of identity theft if an intruder enters their home and physically leaves with confidential personal information. However, some of the most common ways identity theft occurs is outside of the home when the victim is completely unaware of the crime being committed. The three most common forms of this are shoulder surfing, dumpster diving, and Internet fraud.

Shoulder surfing occurs when the criminal obtains personal information from a person while actively watching or monitoring their activities. This could include listening while the victim relays their credit card information out loud over the phone or in person. They could also watch as you write down or type in personal information without you knowing. Key information that most identity thieves look for are social security numbers, bank and credit card account numbers, and telephone numbers.

Dumpster diving is another popular and long-used method of acquiring data about another individual. Often times credit card statements or junk mail containing personal information are improperly discarded. Identity thieves can then go through discarded items to gather this disclosed information.

According to the website of Brent Horst, Attorney at Law, the increased number in quick-pay methods, applications, and internet accessibility is increasing the frequency of identity theft. The internet is a massive warehouse of personal information that is not often as secure as we would hope. Through fraudulent activity such as spam or phishing viruses, it is often too easy to obtain other people’s information.

Just about any Columbia criminal lawyer is aware that common Internet data a identity thief will be accused of snatching include:

  • Wire receipts
  • Social media site messages
  • Copies of emails
  • Login information
  • Access to personal website pages

Conviction of identity theft is a serious crime and can lead to massive consequences such as jail time and substantial fines. If you are charged with identity theft, call a criminal defense attorney in your area to discuss your legal options.

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Probate Litigation

Probate is a legal choice that a person may decide will make the process of administrating the will a less difficult task after their death. Probate is most often considered when the carrying out of a will is predicted to be a complicated matter. According to the website of the Mokaram Law Firm in Texas, an example of this would be if the deceased passed with substantial debts that the estate alone may not afford to pay or if you are entangled in a wrongful death lawsuit about your loved one’s passing. Otherwise, probate is often avoided because of the financial fees that may incur.

Probate law after a person becomes deceased includes a number of processes. This includes:

  • Validating the will of the deceased individual
  • Inventorying the deceased person’s property
  • Appraising the property’s value
  • Paying off debts and taxes
  • Distributing the remaining property to the beneficiaries as the will directs

The will should name an executor that is meant to carry out the last wishes of the deceased and fulfill the duties above. If the will does not name an executer, the probate courts will designate an administrator. This person is responsible for filing the appropriate paperwork in probate court. After this is done, relatives and creditors will be officially notified of the death of the deceased.

The process of finding, securing, and managing the assets of the deceased begin immediately after the death of an individual. This involved process can take a few months to as long as a year. Decisions such as selling the estate to pay debts or managing securities are left completely to the executor of the will. During this process, immediate family members often seek short-term financial support from the courts before probate ends and the inheritance finally passes to the beneficiaries.

Complications can arise when disputes over the trust, probate, estate, inheritance, or beneficiaries occur. In these cases it is best to hire an experienced probate lawyer in your state to quickly and effectively manage the situation.

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