Citizens of the United States are very lucky to have the opportunity to buy and sell mineral rights. Of course, there are many areas of the country that stand out as far as selling is concerned. The citizens of the state of Texas have been dealing with the buying and selling of mineral rights for more than one hundred years. Texans are blessed with lucrative resources such as water, natural gas, and crude oil. However, the fine people of Texas never want to lose money on a business deal. So here are some tips for Texans, and information as to why it is the best place in America to sell mineral rights.
To Lease or to Sell?
If you have lucrative minerals on your property such as crude oil or natural gas, you have hit the jackpot. Just like when someone wins the lottery, you have to make the decision if you want a large cash payment or if you want smaller monthly payments. That is the difference between leasing and selling your mineral rights. If you sell, you will receive one large payment right up front. If you decide to lease, you will receive monthly royalty payments. One of the risks that come with leasing is that the deposit may not be as large as you thought that could put you in some financial and legal trouble. However, if you choose to sell mineral rights, you get that lump sum and will not have to worry about having enough mineral to cover the lease. There are many professionals that you can speak to in Texas about this, especially in regards to oil and natural gas.
The Process of Selling Mineral Rights
As with any purchase, there is a process that you must follow in order to make sure you are obtaining the best deal possible. If you are a homeowner, it is a simple process if you choose to sell mineral rights yourself without any legal assistance. It would be to your benefit to first contact a few purchasing companies, and then take the offer that suits you best. If you are not comfortable doing this, you can always talk to an attorney who has experience with mineral rights and they can do assist you. If you have a larger piece of land, it is crucial that you contact an attorney immediately due to the bigger risk involved. The attorney will then consider all of the details such as drilling, taxes, and the minerals that are covered in the sale.
Those are just a few tips and guidelines if you are looking to sell mineral rights. If you have any questions, be sure to contact an attorney as soon as possible.
