What should I consider when selling mineral rights for my property?

Answer by  Amom (701)

Unless you really need the money, I do not recommend ever selling the mineral rights to your property. Instead, consider leasing them. Leasing is a very common practice and it helps you retain your minerals rights as long as you own the property.

Answer by  TerraGatson (46)

You would want to know whether it's legal or not. You may not always win in a situation like this but you never know how it may turn out. You might just want to earn cash now but thats not always a good thing. With some people they could easily tell you one thing but it could be another.

Answer by  Liz59 (10966)

They are actual real property that can be sold, leased, divided or whatever. Usually, mineral rights are oversimplified so be aware of this trend.

Answer by  withluck (1745)

When considering the sale of mineral rights, you should consider what exactly you are selling. Is the property likely to be used in the near future for minerals?

Answer by  rbowersock (32)

An important thing to consider is how the minerals will be removed from your property. Will ther be an invasive method used? Another thing to consider is whether the minerals will be used in a conservative way or they will be drained and then abandoned.

Answer by  champaign9497 (11977)

The biggest thing you need to consider before you do it is that you are getting the better end of the deal my inlaws sold theirs and they will be paid a check every month for the next 15 years.

Answer by  tkoriginal (90)

Mainly if someone is willing to buy the mineral rights that means there are or will be valuable minerals on your property. Get it surveyed.

Answer by  Jessie124 (1885)

Consider how close your house is to where the company will be digging or drilling. You might not want to put up with the noise or traffic.

Answer by  les59 (852)

You definitely want to get an eco-lawyer involved to look out for your interests on a mineral property deal. The big companies will rape you if you don't.

Answer by  tamarawilhite (17883)

Determine whether or not the local Home Owner's Association will not interfere. Find out if your deed allows for this, or if the bank with the mortgage allows it.