What rights did the Relinquishment Act grant to landowners?

The Relinquishment Act was established in Texas to clarify mineral rights and enhance the state’s economic development through the responsible management of its natural resources. Under this Act, landowners were granted ownership of oil and gas rights, while also establishing a royalty interest for the state. This means that the landowners have the right to extract and benefit from any oil and gas resources on their property, but the state retains an interest in those minerals, which results in the collection of royalties from the extraction activities.

The emphasis on granting landowners ownership of oil and gas rights serves to encourage resource development, while the state’s royalty interest acts as a means to gain revenue from these extractions. This balance encourages responsible land use and supports Texas's economy through resource management.

The other options do not accurately depict the essence of the Relinquishment Act. Complete ownership of all minerals under the land does not account for the state's retained interest. Similarly, while tax liabilities may exist for mineral rights, this is not a direct right granted by the Act itself. Exclusive rights to sell mineral interests are not the focus of the Relinquishment Act, as the primary aim was to delineate rights concerning production and state royalties rather than solely facilitating sales.