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Watch what those pigs will do. Went out today and they have been rotor-tilling everything. I need to start shooting them. Could barely drive on our paths.

http://imgur.com/O5aLnT6

Sharing is Caring.

Soccerdad1995 wrote:I am seeing a lot of listings that do not include mineral rights. How does that typically work? If someone else owns the mineral rights, I'm assuming I would potentially need to give them access to get to those minerals (set up wells, do some digging, etc). How intrusive is this in general? I'm just trying to determine how much I should be motivated to get the mineral rights along with the property. This would be property used for hunting, and possibly a future home site.

The chances of you being able to purchase mineral rights on any land that has the potential to be worth having the mineral rights are pretty much slim to none nowadays. If there is a potential for oil or gas, the rights owner has most likely already been approached by the landmen to lease out the rights. Look around and if you see wells anywhere halfway close to your potential property, that'll tie the ribbons on it.

The mineral rights for the property we bought in Denton County was already given to the 2nd previous owner's daughters as part of her estate. They've leased the land out to Devon, who has already put in one well and storahe tanks. They can still put in one or two more from what I understand. If they do, they'll wind up paying me, my son and D-I-L a token fee for appropriating part of our property, and will have to make their access to their site as unobtrusive as possible. We, on the other hand, can't block their access to getting to their minerals underground, but can request reasonable accomodations to any changes they need to make to our property. But, we aren't going to get any $$$ based on what they pull up from underground.

Oh, and if they damage our property (think oil spill or fire or whatever) they're responsible to us for making it right (of course, depending on what/where the damage is).

It's a whole lot more complicated than this, but it'll give you a general idea based on ehat I was told by the folks that know about such.

The primary thing you need to know about mineral rights are, if you don't have the mineral rights (or atleast the executor rights) you as the "surface owner" have almost NO rights in regards to a lease being put on your property.

Fortunately, we retained 50% of the mineral rights, and where we are located there is no active or future development for oil/gas. Also, by having 50% of the rights, it would make it extremely difficult for the other mineral owners to come in and do anything without our consent. If they did, it would be pretty cost prohibitive.

When we purchased our current home the mineral rights owner agreed as part of the deed and title to include not placing any surface equipment on our property. Get a good real estate attorney to work for you separate from any working for the people you purchase from.

Thanks for the info. Very helpful. My concern on the mineral rights is to minimize surface disruption as opposed to actually profiting from any minerals. And it sounds like there are ways to reasonably protect against that.

You have to be VERY careful.

You have to know who owns the mineral rights, this can be very challenging. For instance, in our case, we own half and we know who used to own the other half. We say that because they are both dead now, which means it went up in their estate, and there was two of them. So we have no idea if 50 people own 1% each or if 1 person owns all 50%. Either way, it would take alot of time, energy and $$$$$ for a lawyer to figure it out.

If you create some kind of contract for them to not place things on the surface, this does not protect you IMO IANAL. If they lease to someone you have no contract with the lessee, therefore they can place whatever they want. Or if they just sell the mineral rights outright you are going to be hosed.

As the surface rights owner you are in the most vulnerable position and you absolutely need to consult an attorney.

And the fun begins. Windstorm created some pretty good damage on the property.

uthornsfan,

Congratulations and great shot. What camera did you use for the shot above?

I am officially jealous! Congrats. We are just starting the process to do the same. How long did out take you once you started seriously looking? Inquiring minds want to know! I'm thinking this could take a year...

I didnt take the photo :/ sorry.

It took us 3-4 months from the time we found the property to the time we closed. That was too slow for us but the holidays got in the way. We don't get possession until April because they are in the process of moving even though we do own and get to file an insurance claim for the wind damage.

Ahhh the joys.

puma guy wrote:Beautiful shot of the tank. I hope you're not plagued with hogs!

or... let us know if you're plagued with hogs and need help with remediation.

:-)

Geez...the guy buys a piece of property and everybody and their Uncle invites themselves to go out there and "help him".

Just my .02,
LeonCarr

LeonCarr wrote:Geez...the guy buys a piece of property and everybody and their Uncle invites themselves to go out there and "help him".

Just my .02,
LeonCarr

We are a "helpful" bunch aren't we?

LeonCarr wrote:Geez...the guy buys a piece of property and everybody and their Uncle invites themselves to go out there and "help him".

Just my .02,
LeonCarr

We are community builders willing to help our like-minded forum members!