This is a familiar site for us in North Texas....These large Oil Rigs are popping up all over the place !!  Homeowners with mineral rights are signing agreements and receiving royalty checks....

                                       Yahoo !!! 

Homeowners are selling their homes and hanging onto their mineral rights.  If you're lucky you can find a property that includes the mineral rights....

Here is a twist to Buying a property here in North Texas.... The Mineral Rights can help the Seller sell his/her property....If the Seller has the mineral rights,  the Buyer can and should negotiate a % of the rights/royalties to go to the Buyer during the negotiation process ... Remember, everything is negotiable....Don't let the MLS listing report that states no mineral rights drag you down....Be creative !!

I have included a Texas Mineral Rights handbook resource link below to help answer questions.  Additionally, I have a local Attorney that would love to help you with any questions or concerns. 

                             http://www.tsha.utexas.edu/handbook/online/articles/MM/gym1.html

 

9 Comments on Black Gold, Texas Tea, Mineral Rights, Be Creative....

OCT
06
2007

Mineral rights can be an issue in Tennessee as well.  These days they are not arguing over very much.  At one time it was for coal rights.  We have some oil and gas here.  More often it can be about timber or rock.  Always good to have an attorney that is well versed in mineral rights.

2:25pm • #1
7 Featured Posts
Vicky-  Thank you for your response !!
2:32pm • #2
OCT
08
2007
121,000 Points 6 Featured Posts Outside Blog

No way in heck I'm giving up my mineral rights!  My grandfather's parents bought a farm in East Texas when he was 3 months old.  He divided up the farm among his children.  My sister and I both got a share when our parents died.  (Actually, it was more complicated than that, but we have a share.)  For years, the income off the mineral rights was extremely minimal, but my mother didn't sell the mineral rights when she told a few acres, and my sister and I held on to ours, and we now get a nice bonus each month from the gas well that's on that property. 

Mineral rights are valuable and shouldn't be sold casually, is my call.

 

4:27pm • #3
7 Featured Posts

I actually have mineral rights on my Texas properties.  No bonus checks yet.

Tricia- Thank you for your response.  You are fortunate !!

5:51pm • #4
OCT
09
2007
7 Featured Posts

Tricia-  Just out of curiosity...Is your land valued the same with or without mineral rights?

For example....Let's say you are retired and want to realize your royalty checks upfront in order to move to Florida or where ever you prefer.... how would you value your property?  Would you want to get it all upfront or still receive checks every month?

9:59am • #5
121,000 Points 6 Featured Posts Outside Blog

Well, this is easily answered, because my sister (12 years older than I) IS retired.  They choose to get their royalty checks every month. 

We've had enormous offers to buy us out over the past few years, from various companies that send us letters with checks in them.  However, every time we do the math, no matter how enormous, assuming things go on as they have been, we come out better not selling.  It's a gamble, but so far a relatively short-term one.  And considering that we inherited the property, rather than buying and making payments, and that it's been in the family 5 generations now (counting my kids, 7 counting my sister's grandkids), it's not likely to come up any time soon.  My daughter does NOT want me to sell the land, and I'm not interested in selling the mineral rights.

To anyone else in the same position, I'd say, do the math. 

10:42am • #6
OCT
10
2007
7 Featured Posts

Tricia-  Thank you for sharing your story..... Obviously this is not something for you or your sister.

We have a huge home in my area that sat on the market for a few years.  The Sellers were selling the home and keeping the mineral rights...it sat and sat and sat and sat on the market....finally the sellers offered partial mineral rights and it sold right away.

I personally invested with a group of investors in a property with mineral rights a few years ago.  We bought several hundred acres.  We are now selling the land and keeping the mineral rights, 

8:47am • #7
109,021 Points 11 Featured Posts Outside Blog

Lauren, Thanks for posting this. You have kindled an interest in Texas land. I might have to come there to check it out.

Bill Roberts

11:41am • #8
7 Featured Posts
Bill-  Thank you for your response..... The oil rigs are popping up all over my area !!
12:36pm • #9

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Lauren Corna, Broker

Southlake, TX

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Archway Realty, LLC

Address: 1701 W. Northwest Hwy, Suite 100, Grapevine, TX, 76051

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