So my mother passed away in late June. Someone reached out to me about mineral rights in Texas she’s associated with. This will be part of the estate/probate process, seeing my mom had no will. I am the sole successor as only child, seeing she was a widow and has no siblings, so the estate/probate process should be relatively quick.
The mineral rights are documented as 50.0 acres of land, more or less, in the J.A. Chireno Survey, A-17, Nacogdoches County, Texas, being more particularly described in that certain Warranty Deed dated April 20, 1960, from Dave Patterson and wife, Avell Patterson, to William Terry Chambers, recorded in Volume 289, Page 540 of the Deed Records of Nacogdoches County, Texas., of which she owns 2.0 mineral acres.
Anyone have any suggestions as to how I can determine if this is worth holding onto, or if I should sell what would be a fair price for this? Based on what I’ve found searching online, the value depends on the proximity of active mining/drilling and general activity around the area. I’m in Ohio and really don’t foresee myself traveling there to see for myself too soon.