Legal Question in Real Estate Law in Texas

My husband and I recently received a offer to buy our mineral rights on a piece of property that we own in Carmine, TX (Washington County). The piece of property was originally 104 acres and was split among 4 children. We were just wondering if we go ahead and sign the paperwork will it effect anything as far as real estate value of the property? Also if we sign off on it will it give them the right to drill on our piece of property?


Asked on 10/08/10, 3:31 pm

1 Answer from Attorneys
Joseph A. McDermott, III Attorney at Law

Property without minerals is often less valuable than property sold with mineral rights intact. You should consider not selling your mineral rights, but rather leasing them for exploration for oil & gas. That way you will receive a royalty on any oil or gas produced and sold from your land. Also, if you don't want drilling on your land, you can incorporate a surface waiver into the lease. You can contact me if you need help negotiaitng the transaction.

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Answered on 10/14/10, 7:54 am


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