I am thinking of selling, but in order to do that, I have to know what I own and sadly I do not. I am completely clueless about everything involving mineral rights, royalties, land, etc. can anyone please tell me what to do to find out exactly what I own, what it’s worth and if I should be receiving checks and other questions. Please and thank you
The first place I would start is by trying to locate your mineral deed. This should tell you the location of your property. You will also want to find out what percentage of the minerals you own. Many times when minerals are sold or passed down to family members, they are divided up so you may not own 100%. If you have not been receiving any royalty checks, and you have not recently signed any lease agreements, the chances are that your minerals are unleased. However, there are situations where minerals have been producing and either the operator, purchaser, or division order companies cannot find the owner in which the money is kept aside until the owner can be located. Not saying that is what your situation is, just saying that can happen.
If you are interested in getting a valuation to find out what your mineral property is worth, there are several mineral valuation service companies out there that can help you out. They can also probably help you out with some of the other questions you have as well. I hope this helps.