Want to begin investigating steps to sell mineral rights in Oklahoma, Blaine county. Any suggestions on how to begin.
The first thing to do is get all of your title documents, wills, probate documents, check stubs, etc. together. Then you need to talk to your accountant and attorney about the consequences of selling from an estate and tax point of view. Things to consider would be capital gains tax, percent depletion capture, any governmental aid that would be affected, etc. You could sell none, sell all or sell part depending upon professional advice.
You should know if you have current production and whether there is any potential for future production. There are many mineral buying groups out there. There are also auction houses that will sell for you (for a price). Getting very informed before pulling the plug. Let an attorney write up and review any paperwork. Do not do it yourself.
Some parts of Blaine are seeing some nice infill wells, so you do need to find out about activity so you don’t get shortchanged.
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