by Patricia Feager
WHAT ABOUT TEXAS
"When the price of oil goes up, the entire Texas economy
takes a breath. Millionaires blossom like rain lilies. News
races through the countryside that the money train is
pulling into the station. Hop on board!"
CAN YOU HAVE YOUR LAND, MINERAL RIGHTS,
AND SURFACE ESTATE TOO?
Well, that depends! If it is a unified estate, a landowner owns mineral and surface estate. But it can be complicated and knowing what Dominant and Servient Estates means and how it affects you is something a buyer needs to know beforehand. Who owns the surface? Who owns the minerals down below is something you ought to know! How are oil and gas extracted out of the ground and who owns what?
In Texas, there are laws in place that buyers and owners need to know and how it affects ownership. For example, there are limitation rights of mineral estates. For more information read Texas REALTORS Magazine online. Additional relevant information can be found in Texas A&M AgriLife Extension following this link. To obtain specific information on "Surface Owner Rights," get "The Handbook, "Petroleum Production on AG Lands in Texas." Below are additional resources.
Texas takes agricultural law very seriously. Thinking about buying property with an AG exempt may sound exciting but it can get you in trouble if you don't hire the right people. Agents like me who only sell residential property are not qualified in this area of real estate. I hope the information is helpful. But I do love to take photos of AG Land, aren't they lovely!!!