Selling Some Land, but Plan to Keep the Mineral Rights

Oklahoma Mineral Rights Le Flore County, OK
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I am selling a 65 acre plot, but want to keep the mineral rights in LeFlore County, OK.

I need some references, please, on how to set this up correctly.

Thank you.

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You need to invest in the services of a lawyer to help you get it done correctly.

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I’d use an attorney to draft the deed. Shouldn’t cost more than around $400. It’s worth the money to pay to get it done right. What Section Township and Range you’re in? There’s some pretty flat decline curve gas wells in parts of LeFlore County.

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The deed is a fairly simple document but it must be clear that it is conveying surface rights only.

This post is not legal, tax or investment advice. Reading or responding to this post does not create an attorney/client relationship.

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Michialtoo, I agree with the previous comments, but would add, you could deed the minerals to a separate legal entity that you own (for example, Michaialtoo LLC), then the mineral estate would not be part of the 65 acres you would be selling individually. You could deed the minerals to yourself (I would do it as “Michialtoo, sole and separate property”, but then you would need to specify in the sales deed for the 65 acres is for the surface estate only (as Richard_Winblad recommends.

**This post is not legal, tax or investment advice. Reading or responding to this post does not create an attorney/client relationship.

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Excellent points and I thank you.

I am already moving toward setting up a holding entity for these things for my generations to come. This suggestion fits right into that long term plan.

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