Texas is a state that is known for its richness in natural gas, oil, and tons of other minerals. Because of this abundance, Texas is bound to numerous laws protecting the interest of nature and owners of the property where resources are found.
One of these regulations is the mineral rights in Texas or the owner’s right to extract mineral deposits on the surface or beneath a property. These minerals include iron, stone, coal, gas, metal, natural gas, and more.
Selling mineral rights is a common thing for owners who want to make money out of their property in Texas. If you’re new with all these, below are some of the things should know before deciding to sell your mineral rights:
It’s also essential to be aware if you own both surface estate and mineral estate of the property. The surface estate is the visible land on the property, while the mineral estate is the mineral deposits within the land or below the surface. In Texas, it’s possible to have different owners of both surface and mineral estates.
Mineral rights have different worth, but frequently, the following factors influence the value of the property:
It’s best to work with reputable companies in Texas who can evaluate and determine the value of your property.
The more buyers aware of the sale, the more they will compete for your property and receive firm offers. Do not settle with the first offer that you get because chances are; buyers are aware that you're not sure of the value of the property and want to sell it immediately. Exert time and effort in sending information about your mineral rights to various buyers in Texas to land in the best deal.
Selling your mineral rights goes beyond closing the deal, signing a contract, and accepting payment. It takes in-depth research and working with the right people.
One of these regulations is the mineral rights in Texas or the owner’s right to extract mineral deposits on the surface or beneath a property. These minerals include iron, stone, coal, gas, metal, natural gas, and more.
Be aware of what you own
You must first identify if you’re the actual owner of the mineral rights of the property you acquired. You can determine the ownership by looking at property deeds and titles. Meanwhile, you can employ a mineral rights title professional in Texas who can certify if you're legally allowed to sell or lease such rights in the open market.It’s also essential to be aware if you own both surface estate and mineral estate of the property. The surface estate is the visible land on the property, while the mineral estate is the mineral deposits within the land or below the surface. In Texas, it’s possible to have different owners of both surface and mineral estates.
Know the worth of your minerals
Just like any other property, the open market dictates the value of mineral rights. Make a thorough research of recent transactions in your area to learn more about the value of your property.Mineral rights have different worth, but frequently, the following factors influence the value of the property:
- Property size
- Mineral deposit size
- Producing or non-producing mines
- Current prices of commodities
It’s best to work with reputable companies in Texas who can evaluate and determine the value of your property.
Be open to competition
One of the common misconceptions that mineral owners in Texas have is that all mineral rights buyer will offer the same amount for the value of their property. However, as first-time sellers, you should be open to competition and let multiple buyers and companies know that it’s for sale to get the best price.The more buyers aware of the sale, the more they will compete for your property and receive firm offers. Do not settle with the first offer that you get because chances are; buyers are aware that you're not sure of the value of the property and want to sell it immediately. Exert time and effort in sending information about your mineral rights to various buyers in Texas to land in the best deal.
Watch out for scams
Unfortunately, there are still some people who will take advantage of your lack of knowledge and experience on mineral rights in Texas. Do not fall for offers that are too good to be true. Look for individuals or companies that have a strong track record of closing deals and have an extensive portfolio of mineral assets.Selling your mineral rights goes beyond closing the deal, signing a contract, and accepting payment. It takes in-depth research and working with the right people.
Ashutosh Jha
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