I have an opportunity to purchase oil/mineral rights in Hutchinson Texas. I have never done this before. I have contacted an attorney to conduct the transfer for me however I was looking for some insight and advice from some experienced rights holders. Also, after a well stops producing, would I continue to have tax obligations for the subsurface rights I am purchasing? Any insight is greatly appreciated.
There are no taxes on non-producing minerals in Texas
Thank you Jordan, being new to this, that is valuable information. I appreciate your expertise.
Jordan Murray said:
There are no taxes on non-producing minerals in Texas