Hello All, I just joined and hope to avail myself of you folks’ kindly shared knowledge. A fellow from Alamo Endeavors contacted me recently wanting to buy what I didn’t even know I owned, which he said is mineral rights to “Tract 1: Section 31, Block 32, Township 3 North, T&P RR Co. Survey, Howard County, Texas”. First in his letter he offered $7,250 and then in a phone conversation and subsequent letter only $3,500 because he said there is some question on the title. This evidently would be an inheritance to me as sole beneficiary of my mother’s estate, but I guess she didn’t know about this either, these rights evidently coming from her mother’s estate (my materal grandmother) and grandmother having inherited same upon the death of one of her brothers, and it was split between the surviving siblings which there were three I believe. I am the only surviving person in this line that I know of. There was no mention of how many acres or whether they are being used for anything and I have very little or no idea of how to find out what I’d need to know to figure out a fair price. Using this http://www.earthpoint.us/TexasLandSurveySearchByDescription.aspx I received this result:
which says it’s 653 acres but I have no clue what that might be relative to the “net acres” I see mentioned in posts here.
Oops I accidentally posted this before I was through :\ I am willing to do research, just need guidance, and will deeply appreciate any guidance and information you may kindly give. TIA.
P.S. Now that I read the original letter again, it said “This interest equates to a 0.1% interest in the subject property.” How would I find out whether or not this is correct?