If you are fortunate enough to own some piece of land, your property might be of much value than the standard price of an acre in the area. You can be sitting on a gold mine, you never know. That is why an option to sell mineral rights might become viable.
It is recommended to check beforehand
whether the previous owner of the land sold out the mineral rights or not. Most
of the times, the land purchase includes the right to the minerals that maybe
beneath the land. Rarely, the precious owner of the land may chose to sell out
only the rights of the surface, in these cases the seller makes it clear to the
potential buyers about their intentions regarding keeping their mineral rights.
Generally, the process of liquidating
minerals is quite simple and is expected to be completed with a literally no or
a very small expense on the behalf of the seller. A few of the companies offer
to evaluate your land for free and they make an offer of the money they would
pay you in return. Some of the companies before evaluating your land for free
bind you to an agreement. According to agreement, you are bound to decline
every other offer made to you except the company, which is evaluating your
land.
Make sure that you do not agree to any
such agreement. If previously you leased your land, you own a loyalty that is
productive, or the location of your property is at such a place that it is
within a few miles of a producing well; your property can be easily evaluated.
Even if your property does not fall in above-mentioned properties, it is a
possibility that there would still be buyers of your land in the market.
Before you put your land for sale, it
is advised that you gather certain documents regarding it. For instance,
documents that may help are mineral deed, division order, lease agreement,
check stubs, plat maps, production records, geological record, etc. Virtually
any document or record related to your land should be present and may assist
you when a company is evaluating your land. Almost every company requires you
to provide one or more legal documents before the company starts the evaluation
process.
If you opt to sell mineral rights
of your land, the company, which is going to buy, has the rights to take up as
much land the extraction and evaluation process requires. This right does not
gives them the ownership of your land, but what is beneath your land. Most of
the companies are flexible regarding this and do not allow any activity within
200-500 yards of a dwelling etc.
