No, own the land and have mineral rights.
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
Do you know any good buyers?
Have you considered an auction?
Says the auctioneer.
I don't know how to go about it.
I don't know how to do this.
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?
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.
Our verbal offer was for ~$6500/acre
Northern Butler Co, Pa
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