If I sell I do not want to get stuck with worthless land. I cannot imagine anyone buys the land with out the leases. The only think I can think of is to not pay the property tax and it would go back to Pecos County but that does not sit well with me. What do others do? I live in Idaho.
How much land are you talking about? Is it located near a town or a road, or even better a highway? You could list with a real estate agent.
If a small parcel, the taxes can’t be much if paid timely. There’s a big penalty on overdue taxes July 1. It will take at least 3 years before the county will proceed against you.
Most likely the surface land was severed from the minerals years ago. So you need to understand what you own and what you are selling. You may only own a percentage of mineral rights that are under X amount of surface area. MK
I’m guessing it’s an undivided interest in the surface? Only sell if they’ll buy the surface interest as well. I’ve seen plenty of transactions in the Delaware Basin where the buyer purchases both the minerals and surface interest.
I would keep my surface. If your close to a major power line the solar or battery folks may come calling. Water rights usually stay with the surface if they have not been severed. Pipeline easements generate occasional revenue. Caliche can fetch a buck now and then…And disposal well revenue usually goes to the surface owner.
Sounds like a prime candidate for adverse possession
What’s the legal description, I’ve got some goats and a fence that need a good home!
forget my last post. Those were all from mineral tax statements. I found the land statements 3 parcels. 1 for 39 acres. 1 for195 acres and 1 for150 acres. I do not know why the mineral statement show so many acres. And It says I have 1/3 ownership. I know my cousin is part of the 1/3 owner I do not know how to find the other owner.
Like playing Tetris blind folded fellas…Not really sure what to make of it
You should have 2 tax statements. First, tax statement for the surface which will list the gross acreage and your fractional interest. This is when you own an undivided interest in the surface. For example, 39 acres and 1/3 interest is 13 net surface acres. Second, tax statement for producing minerals which is based on the appraisal value of the well and your royalty decimal. It references all the acreage in the well unit, not just your mineral acreage. This is in part because the RRC sets minimum acreage to drill a well for a specific depth and the acreage often incorporates multiple tracts with different owners.
WE are also in an El Niño year. Always factor that in to the equation.
I have all of the tax info. I also found who the other 1/3 interest is held by . I will write them first to see if the would be interested in our 2/3. Back to my original question. How does on go about selling the land and mineral rights together?
Ok with a little bit of digging I found my cousin and I have 2/3 interest in the land and I now have the name of the person who owns the final 1/3. I will write to them and see if they might be interested. I also recieve a letter from Copperhead Resources. The said the would like to talk about buying both rights and land. Time will tell
I bet a third party buyer will likely be a better offer than the other 1/3rd interest owner
I bet these guys would take that garbage.
Why would you call the surface “worthless”?
Did I use the word worthless “Socrates” ?
thanks for the info. The surface with no mineral rights to me is worthless. Nothing can be done with it so why keep it?
The other 1/3 party is part of the Riggs family. I send a fedex letter and documents to them but they never replied
I looked at the title on this today. It’s complicated. I’ll send you something later this week.