Selling your mineral rights is a big decision, so you should take it seriously. You need to be well informed and feel comfortable. As a mineral rights owner, you can profit from some trends that converge into high capital flows in the oil and gas sector. If you are thinking about putting your mineral rights up for sale, you need to consider some things before any agreement can be made official.
What are Mineral Rights?
Mineral rights are the ownership rights to underground resources like oil, natural gas, copper, iron, coal, gravel, metal ore, and more. With these rights, you can own and exploit any natural resources found beneath your land.
In the United States, ownership of mineral resources was originally given to the individuals or organizations that owned the surface. Property owners had both surface rights and mineral rights. Mineral rights can be privately owned in the United States, which means you can sell those rights to private corporations to generate significant upfront or ongoing royalty payments. Real estate buyers must consider mineral rights.
Know Which Mineral You Want to Sell
If you sell your mineral rights you will sell the right to access and extract minerals from the ground. Generally, it is best to get a lump sum or a combination of money and extracted minerals in the final deal. When selling your mineral rights, you can grant access to the surface, convey rights, or renew, extend, or delay rentals and royalties. These minerals include ores of metals, coal, oil, and natural gas, dimension stone, gemstones, salt, construction aggregate, and other materials extracted from the ground.
Know What the Mineral Rights are Worth
Generally, projections of the future productivity of your mineral rights are used to determine its worth. Because of the many factors such as the operator, current production, the number of wells drilled and to be drilled, royalty rate, permits, pipeline infrastructure, and others, there is no accurate value to mineral rights. Your mineral rights ownership is different from others. The best way to estimate mineral rights value is to through existing offers.
Speak with Someone Who Knows Mineral Rights Like the Land Investors Over at Checklands
If you are not well-versed in the intricacies of mineral rights, it is a great idea to talk to a land investor. They can help you get a fair, competitive price as well as keep you informed and involved throughout the evaluation and purchase process.