Should my parents sell or transfer mineral rights me

My parents each own half of producing leases in Oklahoma. We are all residents of Texas. They would like to sell or transfer these to me. Can we use a quit claim deed for either of these? If I buy them, will it keep the mineral rights from going through probate in Oklahoma? Also, what is the tax implication? I have read that OK takes about 28% from out of state owners. Does that mean I would have to file Oklahoma State Tax Return, or would the income be covered under Federal. Any help would be appreciated.

Probate can be avoided in three ways *Deed now ( may trigger gift tax filing requirements for your parents, also you lose a “stepped up valuation” which could mean increased capital gains taxes if you sell later.

*Trust, if your parents have a trust the property can be deeded into it. The Trust can make you the beneficiary of that property. You achieve stepped-up valuation which can reduce capital gains if you sell later. If they don’t have a Trust, a simple Oklahoma Mineral Trust can be created…

*Transfer on Death Deed. Your parents retain ownership and all rights. Upon death you would file a simple affidavit and death certificates and the property becomes yours. Again, a stepped up value.

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