Hi, I am new here, I hope this question is appropriate.
When going through my grandmother's things, I came
across a recorded "Mineral Deed" in which she transfers mineral
rights to my dad (in 1953) but the consideration is "one dollar
cash paid in hand" and "affection". Would this be considered
to be just a gift deed since the money amount is so small?
If it were not a gift but indeed a sale, my mom would still
own half the minerals involved (I guess), as my dad transferred all his
rights to the land several years later, but my mom did not
(my parents married in 1951).
There are several producing wells on the property.