Hi Everyone -
We own 40+ acres in Jefferson County on Sampson Rd. We are currently selling our house and own the mineral and water rights to the property. Is there any way to assess the value of the rights when figuring out a price to sell? We didn’t really take into consideration the rights when we put the house on the market, but we are being told that it is not very common to have the mineral and water rights included with a sale.
thanks
Your surface rights would have a value which a real estate appraisal would determine. Your mineral rights may need a mineral rights appraisal or you need to ask around to friends and neighbors if they know what minerals sold for. You can keep the mineral rights and keep the potential for future royalties and sell the surface, but you have to very careful in wording the deed to do that properly. Good to get an attorney involved. You can also sell the whole thing.