We have inherited some property and its mineral rights. We are planning to sell the property but are wondering if it’s worth keeping the mineral rights. These are gas leases and have been in place for about 7-8 years. I know nothing about this but I would assume at some point they aren’t worth much anymore. Is that true? If so, what timeframe would we be looking at.
We were told that it might be better (more valuable) to use the mineral rights as leverage to sell the property.
Explain further as how many net acres…give Section, Block and/or Abstract #
Generally, owning mineral rights is fairly easy. Texas requires payment on property taxes which are a bit of a headache. Some leases go on for decades so a 7-8 year timeframe might not be relevant. I depends on the area and production. Also keep in mind that you may be facing some capital gains particularly if these were inherited some time ago. Visit with an accountant prior to pulling the trigger on any sale.
This post is not legal, investment or tax advice, it is for discussion purposes only. Reading or responding to this post does not create an attorney-client relationship.
This topic was automatically closed after 90 days. New replies are no longer allowed.