Family legacy of Mineral Rights in Walker Ccounty, Dodge , Texas

Oil and Gas Leasing Help
1

This was a shocker for our family, but now what?.. not that much land, 65 acreas, 21 heirs.. Don't know what all the others are doing, but here is the short version of my sad story, maybe one of you can help or point me in the right direction ??

Mother just passed, June 2012 and father is living but under medicare..

Mothers' part is 3.095 acreas, not much , but makes a messy mess of the medicare stuff for Dad.

It comes down to us, 3 siblings, have to sell or buy the mineral rights for that land. and yes we , as a WHOLE, all 21 people have just been approached by a *landman*.. and from what I understand MOST have signed on the dotted line, not even bothering to do the research, NOT my style.. I am NOSEY..

My question : How do I find out what a *fair market value* is on the rights ? From what I have found it is not that easy to determine. *Sigh*.. any and all help will be greatly appreciated..

and PLEASE use terms this *lay person* will understand... : )

2

In Madison Co, the going rate is about $400 per acre bonus money and 1/5 royalty. So on 3 acres, the $1200 would be split 21 ways in your case. Not really worth too much brain damage, at least not on the bonus/lease money. The royalty % is much more important.