How do you determine the fair market value for selling mineral rights? I may have to declare personal bankruptcy and I have to list my mineral rights fair market value price, but I don’t know how to determine that. I’m not currently in a lease nor am I receiving any income from them at this time. E. Van Sickle Survey 885 between Hwy 19 & FmRd 859 between Canton & Edgewood, TX. Van Zandt County.
If they aren’t leased and aren’t producing, chances are they won’t be valued at too much currently. Which is good because I believe you could use your “wild card” to keep them. Bankruptcy allows a wildcard where you get to keep so much up to a certain amount of money depending on your state.
Thank you! Kinda what I figured, in this case HOPED. Bankruptcy lawyer has put it on me to research & figure out to prove a number.
How many acres do you own? If it’s not many and they aren’t leased, and don’t have offers, I think a few hundred bucks an acre would be pushing it when it comes to value. But I could be wrong. Have you ever leased it within last 5 years? If so, value it at 3x that amount. They say a good rule of thumb is that they are worth 3x the going lease rate.