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Selling Your Mineral Rights in Texas

Mineral rights also known as mineral interest is an aspect of real estate law that does not commonly come up in most areas in the U.S., especially for residential land owners. In Texas, however, the proximity of geologic features such as the Barnett Shale which yields fortunes in natural gas to the mineral rights owners, it becomes more than an academic interest.

Mineral rights are not necessarily dependent on land ownership. It has happened that the deed for real estate sold to an individual may have separate mineral rights ownership via a legal instrument called a conveyance. This basically means that the owner of the conveyance for mineral rights can exploit any resource that may be discovered under the property, or sell them to a third party. The owner of the land itself will not profit from the transaction and may not restrict or disallow the mining of the land or selling the mineral rights.

Of course, a dispute may be filed with civil court, and it will be up to the lawyers to present their case in the best possible light. But the best way to avoid all this trouble and unpleasantness, not to mention expense, is to ensure that all documents and provenances pertaining to a real estate property are thoroughly investigated before purchase. If a conveyance of mineral rights is present, the purchaser will have the option to draw back or to purchase the mineral rights as well.

This makes perfect sense in particular areas of the U.S. It gives new meaning to the phrase “sitting on a gold mine.” According to The Mineral Auction website, land rich in mineral deposits are at a premium, and selling the mineral rights to one should not be conducted without careful consideration. The best way to maximize the benefits of having such rights is to forge connections with the right buyers and hold out for the best offers. Another option is to have a third party who already has the connections to broker the deal for you.