If anyone can brief me I really would appreciate it. I own 10 acres; however, I don’t own the mineral rights. Does this mean my chances of a payout are slim?
Do you know what you own? That is where you need to start.
Hmmm good question. Not sure what you mean by what I own. I own 10 acres of land in Monahan, Texas. Never seen it. Just been paying the taxes on it for years.
Ward County is one of the best counties for oil and gas at this time. If you are right and you don’t own the minerals then you are only a surface owner. The only money you could expect would be through right-of-ways, easements, disposal wells, etc. Never enter into these agreements without legal advice. You could wind up jeopardizing the future sale of your 10 acres for a few dollars.
1 Like
Why are you thinking there will be a payout of some unknown origin?
Bully 5. Thanks so much for that tip. To be honest, I am not sure if I own the mineral rights or not. My paperwork (deed) does not state anything about mineral rights so I assume I only own the land. Your feedback gave me some more insight. Once again, thanks.
Todd, this entire forum is about mineral rights vs payout. Not sure what your question is implying. Can you please be a little more specific in your delivery? Thanks.
Queen V., I definitely would check title. If nothing in your deed addresses minerals, then you may actually own part or all of the minerals. Good luck.
You stated you don’t own mineral rights, correct? And that you own surface rights that you are being taxed on, correct? If those are factual, what do you own that will give some kind of payout or maybe better yet, what do you consider payout?
1 Like
QueenV, If the addendum on the sale of the land does not specify that you don’t own the minerals then you do. When we sell land, we have to specify that we’re keeping the minerals. Chris
2 Likes
Whew you just made my day. I believe therefore the outcome has to be to my advantage. Once again thanks a million!!!
1 Like
Chris gotcha thanks for the feedback.
QV- if the deed into you did not mention minerals, you received whatever the seller owned. If they owned no minerals you own no minerals. If the seller owned 1 acre of the minerals under the 10 acres, you own 1 acre of minerals and so on. As bully5 says, get a title review done to determine what you own. The location will also determine whether what you own has any value.
1 Like
This topic was automatically closed after 90 days. New replies are no longer allowed.