Can someone provide a recommendation for me? I am looking for an engineer or landman - someone who can help find the value of mineral rights at the time of purchase many years ago.
Keep in mind that the original basis must be reduced by 100% of the depletion taken on royalties over the years by the mineral owner/ seller. This reduction can easily take the basis to zero. It never becomes negative. For many long-term mineral owners, the original basis (whether at time of inheritance or purchase or gift) for producing minerals will be negligible. If the property has not been producing, then you will original value.
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