MS HB462

Allows owners of mineral rights to sell or lease those rights with a reservation clause that specifies when the rights will revert back to the original mineral owner.

Requires owners of land burdened by mineral rights and owners of separate mineral rights to exercise their rights with reasonable regard for the rights of other parties.

Permits mineral rights owners to reserve surface rights necessary for exploration, mining, and production activities within the sale or lease agreement.

Provides standard language for mineral rights reservations that allows the purchaser or lessee to use only so much of the land and surface as reasonably necessary for mineral operations during the specified agreement duration.

Takes effect on July 1, 2010.