My mother owns a 1/4 of about 500 acres mineral rights. All leases have stopped after years of them. Around 2013. We are having a financial hardship now. She no longer owns the land. They are in Buttonwillow. Close to elk hills.i will look for the maps. Would you suggest selling them, or contacting former leases. We would like to save them for her 2 grandkids, but we really are interested in what they may sell for. I believe natural gas would be the mineral access. But I’m sure there is oil as well. Thanks Dustyn
Hello everyone! My grandmother inherited some mineral rights in Buttonwillow, CA. It has changed her SSI benefits. She would like to transfer them to me. I was told by the SSA that a transfer would automatically disqualify her from receiving benefits. There have not been any leases associated with them since 2014. Details of the deed are as follows:
1/4 of 1/2 of all oil, gas, and hydrocarbon substances.
The East Half of the Northeast Quarter of Section 20, Township 29 South, Range 24 East, M.D.B.M.
Portion of the North Half of the Southwest Quarter and of the South Half of the Northwest Quarter, all in section 33, Township 29 South, Range 24 East M.D.B.M
Portion of the North Half of the Southeast Quarter and South Half of the Northeast Quarter of Section 33, Township 29 South, Range 24 East, M.D.B.M
She does not own the surface rights.
As a family we have considered selling them, but realize now is not a good time.
We are looking for the least expensive way to address this issue. We at some point want them put into a trust for the kids.
Not legal advice. Simply transfer and record in the county were mineral rights are, you can also pass this information as to your contact info to the county assessor . You will not be taxed on your mineral rights only on any money earned. Not tax advice. But the information will help potential companies that would want to lease able to find you all the more easier