Upon selling mineral rights to an oil company, the buyer relinquishes which rights?

When selling mineral rights to an oil company, the buyer relinquishes subsurface rights. Mineral rights specifically pertain to the rights to extract and utilize resources found beneath the Earth's surface, such as oil, gas, and minerals. By selling these rights, the seller allows the purchaser to access and extract these resources, thus indicating that the seller no longer holds the authority over what lies underground.

Surface rights, which pertain to the land above ground, are typically not affected by the sale of mineral rights unless explicitly stated in the agreement. Air rights relate to the space above the property, and occupancy rights refer to the ability to inhabit a property. These rights are generally retained by the landowner unless otherwise negotiated. Therefore, the focus of this transaction is primarily on the subsurface rights, making that the correct answer.