Selling Land and/or mineral rights etc.

we have 12 acres in Nobel County, Jackson Township, Ohio, that we would like to cash in on.  Is anyone interested or have any ideas?

Ken Sundermeier

216-741-9115

k_sundermeier@yahoo.com

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Permalink Reply by Rich on September 15, 2014 at 12:20pm
Ken are you under a lease currently
Permalink Reply by Kenneth W Sundermeier on September 15, 2014 at 12:27pm

No, own the land and have mineral rights.

Permalink Reply by mike james on September 16, 2014 at 4:03am

i would not sell but if so i would take no less than 20 grand an acre but even at that you will kick your self in the butt down the road good luck

Permalink Reply by Kenneth W Sundermeier on September 25, 2014 at 3:25pm

Do you know any good buyers?

1s6j41o27wclhPermalink Reply by 1s6j41o27wclh on September 16, 2014 at 3:28pm

Have you considered an auction?

Permalink Reply by Dexter Green on September 16, 2014 at 5:26pm

Says the auctioneer.  

Permalink Reply by Kenneth W Sundermeier on September 25, 2014 at 3:26pm

I don't know how to go about it.

Permalink Reply by Kenneth W Sundermeier on September 25, 2014 at 3:26pm

I don't know how to do this.

Permalink Reply by mike4t on October 16, 2014 at 1:00pm

We just received a verbal offer over the phone. Not being real interested at first, I didn't pay attention whether it was for buying mineral rights or buying royalty interest . Either way, I don't think its enough, mostly due to the fact that it was our first offer for purchase.

My question- are both ways taxed the same? As capital gains or as ordinary income?

Our lease covers 1000ft below the Speechley Sands. That being said, are there any differences between selling the rights or the royalty?

Permalink Reply by Utica Watcher on October 16, 2014 at 1:07pm

Mike,

I know that when you receive actual royalties, that is taxed as regular income.  Selling your minerals is taxed at capital gains, either short or long term depending on how long you've had the property.

I just haven't heard prices from anybody for what seems like a few months, so I'm curious as to what others are hearing and receiving.

Permalink Reply by mike4t on October 16, 2014 at 1:26pm

Our verbal offer was for ~$6500/acre

Northern Butler Co, Pa

Permalink Reply by evan on October 16, 2014 at 1:28pm

In ohio selling royalty interest is the same as selling mineral rights. I checked into it when I about sold mine. Google it. It's easy to find   

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