Hi Marcus, I have some mineral rights at N2 of section 18, Block 25. Its been leased 1 year this month and was wondering if you have heard of any action there? Thanks.
Yeah the rental property transaction you are referring to is called a 1031 exchange. It allows you to transfer your real property from the minerals to the new rental property. Additionally, if you decide to sell, you pay capital gains tax vs income tax which is significantly less.
There are very tight time restrictions on a 1031 exchange. Make sure you understand all the rules before attempting to use it.
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Perhaps this thread should be closed now?