Legal Question in Real Estate Law in Texas
I own the mineral rights to my property but have leased them out. I am selling my property but want to keep the mineral rights. How do I form an LLC to keep the mineral rights?
1 Answer from Attorneys
You don't have to form an entity to keep the minerals. You can keep the minerals by (1) reserving them when you convey the land or (2) conveying them before the sale (you will still want to reference the fact that the minerals have been sold). If you wish to convey the minerals pre-sale to an entity (and wish to hold them in an LLC) you would form the LLC by filing a certificate of formation with the Texas Secretary of State ($300) and then you would want to have an organizational meeting and an operating agreement for your records.
DISCLAIMER�This answer is for informational purposes only and discusses general legal principles, trends, and considerations and is not intended as specific legal advice regarding your question. This answer does not establish an attorney client relationship. For legal advice, you should retain legal counsel regarding your specific circumstances.