Replies to This Discussion

Permalink Reply by 0ym9x5ag7ury2 on September 17, 2012 at 1:03pm

Mud,    I recently bought mineral rights with 2 co-workers. We each paid 1/3rd of the total cost including closing and had deeds drawn up for each of us as 1/3rd owners of the total parcel. What this did was make the transaction easy for each of us since the closing attorney handled each of our checks and the resulting deed made it clear that each of us were owners. We included our spouses on the deeds as you normally wood when buying land.

The reason I am telling you this is to suggest a process that will make it easy for any stranger on the street to get involved in sharing your minerals. The amount of money it will take to keep you afloat will need to be determined, and the typical royalties in your area would make it easy for two honest people to arrive at a fair deal for both parties. Then you would agree on the percent ownership and no money would be exchanged except through a closing. The lawyer would ensure the money is transfered to you and the percent ownership of the minerals for each of you would be entered into the court house effectively transfering a % ownership to the partner. 

You probably see how this could work now with no one taking a chance or getting a bad deal.

 There should be plenty of people in  your area who have gotten gas money and would be interested in ensuring you have the same success that they have had. The extra money in royalties will sweeten the deal for a partner and you wouldn't need to risk getting involved with people who might take a huge part of your mineral rights for a small sum. I have mail from at least 8 companies that want to share in my minerals. No Way would I ever trust them. Never sign anything until you get a lawyer and a trusted friend to both review the contract or lease.      Good Luck in finding someone.

Permalink Reply by 0ym9x5ag7ury2 on September 17, 2012 at 1:09pm

Mud,    I recently bought mineral rights with 2 co-workers. We each paid 1/3rd of the total cost including closing and had deeds drawn up for each of us as 1/3rd owners of the total parcel. What this did was make the transaction easy for each of us since the closing attorney handled each of our checks and the resulting deed made it clear that each of us were owners. We included our spouses on the deeds as you normally wood when buying land.

The reason I am telling you this is to suggest a process that will make it easy for any stranger on the street to get involved in sharing your minerals. The amount of money it will take to keep you afloat will need to be determined, and the typical royalties in your area would make it easy for two honest people to arrive at a fair deal for both parties. Then you would agree on the percent ownership and no money would be exchanged except through a closing. The lawyer would ensure the money is transfered to you and the percent ownership of the minerals for each of you would be entered into the court house effectively transfering a % ownership to the partner.

You probably see how this could work now with no one taking a chance or getting a bad deal.

There should be plenty of people in  your area who have gotten gas money and would be interested in ensuring you have the same success that they have had. The extra money in royalties will sweeten the deal for a partner and you wouldn't need to risk getting involved with people who might take a huge part of your mineral rights for a small sum. I have mail from at least 8 companies that want to share in my minerals. No Way would I ever trust them. Never sign anything until you get a lawyer and a trusted friend to both review the contract or lease.      Good Luck in finding someone.

Permalink Reply by 0ym9x5ag7ury2 on September 23, 2012 at 4:34am

Mud,  A WV lawyer that you may want to contact is on TV, Jeff Rokisky "Senior Living Today" is putting on a recorded show on Channel 9 Stuebenville OH, dealing with selling mineral rights using his team of lawyers. Jeff said that his team will take into account your location, land amount, terms of your lease, and other factors. They will evaluate the value of your minerals then offer the amount of minerals (acres) you want to sell to 25 or more companies in a competitive format where the companies bid against each other for your minerals. 

If my idea of "Partnering" doesn't work and you decide to sell some of your rights, I recommend talking to Jeff Rokisky or a similar Lawyer Team in your area that will do the same evaluation and have companies bid on your mineral rights. There is a 6% fee if Jeff sells your minerals, no fee if there is no sale.

Jeff gave an example where a landowner sold his minerals to a company on his own and got substantially less money than Jeff could have gotten the landowner from the same company if he had used his services.

1-888-388-2529 For the Minerals Lawyer Team and 1-877-748-3234 for Jeff Rokisky.       

330-271-9156 if you need additional information.    Good Luck. 

 

 

Permalink Reply by Mud on September 23, 2012 at 9:04am

Ron, you've been very helpful. Thank you. You've offered some options I never would have considered. Since you and the others posted I have approached a relative who is interested in buying into the lease. The details are complicated but he is giving me what I need to hold onto the property in return for a fixed % profit when royalties come in.

My lawyer is working on the contract. She said it was a good deal with solid terms and should be profitable for everyone. We even included terms in case the royalties aren't as expected. (My wife and I have tried to be very conservative with royalty estimates, including low yield wells and steep decline rates) 

Long term illnesses can wreak havoc on a person's plans. Thank you for helping to mitigate that.

Permalink Reply by 0ym9x5ag7ury2 on September 23, 2012 at 3:02pm

Mud, You're welcome. I'm glad you have found a relative to partner with.

My last response might help someone in the future who is trying to find the best way to sell their minerals, assuming they absolutely can't find a better way out of their predicament.  

Good luck up there in the corner of PA, I hope you hit a gusher.  

Permalink Reply by Mike Sero on April 9, 2013 at 6:45am

If your still looking to sell I might know a buyer up there