Does anyone know how to go about selling land but keeping the mineral right?
Just needs a clause retaining the mineral interest.
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Have an attorney help you with the wording. It has to be exactly right.
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If there is a contract, be sure that it for surface only and reserving oil, gas and other minerals. Likewise the deed needs the proper language.
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Can a real-estate agent handle the sell and complete all paperwork needed to keep the minerals? Or do I have to hire an attorney to work up a deed that reserves the minerals, before listed with a real-estate agent?
In reality, you don’t have to hire an attorney, but I certainly would. It is very important to get the wording correct to meet your desires. Real Estate agents don’t deal in mineral rights.
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How important is it to you? How mad or disappointed are you going to be if it isn’t done correctly.?
The only thing I’d add, is that a real estate agent can handle the sale of your land (the surface rights) and you don’t have to do anything before listing it for sale…except make sure that agent understands you intend to sell surface only and reserve whatever mineral interest you own. Make sure that is spelled out in the contract you sign.
A real estate agent can’t draw the deed of sale. That’s what needs to be done by an attorney you hire, or one that a title company has draw the closing documents if you use one to close the sale.
Don’t be surprised if the potential buyer of your land wants the deed you sign to also include a waiver of your surface rights regarding the mineral interest you retain…something else an attorney can advise you on.
Thank you all for the wonderful advice given on helping me. This stuff is way out of my league and my mind is just overwhelmed. I’m at the point thinking the town will try to take my land for imminent domain, due to them needing water. I have water and oil under my land. Is it feasible that I can hold onto the underground resources, if they take the surface? The land has been previously pooled for oil in the generalized area, but we are still to receive the pooling compensation after years of the pool. I would be willing to sell water to the town. Im thinking of every scenario to include selling the land, but keeping the resources. You all are right. I need an attorney or someone who deals in the mess of my situation. What type of attorney do i need? All I see are criminal Attorneys.
You need an oil and gas attorney or good real estate attorney to get the proper language to keep the minerals. The water generally belongs to the surface owner, but that depends upon the state.
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