The Real Estate Encyclopedia
Texas Land For Sale-Mineral Rights And Land Values
Category - Real Estate Information Sources - Real Estate Articles

If you are looking at Texas land for sale there are a few things you need to consider when coming up with a value for the land you are looking to buy. If you buy a tract of land in Texas that does not necessarily mean you bought the mineral right to the land.

 Many people who buy land and even houses in Texas are unaware if they own their mineral rights of not, Realtors wanting a deal to close or land owner that did not disclose if he sold the mineral rights with the land he sold just to make a sale, there are many ways to end up with land and not your minerals with it. Why should you care and what could the potential consequences be for not knowing if you own your mineral rights. Mineral rights are separate from land ownership meaning you can own land and not the mineral rights or the mineral rights and have absolutely no ownership in the land. A few reasons this could come back to haunt is if you bought your Texas land and did not get the mineral rights and the mineral holder gets a lucrative signing bonus from an oil company to lease those minerals it could leave you with problems. It could mean unsightly equipment, your property and ability to use it could be disrupted due to exploration attempts, loud noises due to drilling efforts and also diminished property resale values because of poorly handled extraction and exploration techniques and the blight they can potentially place on your land and even worse your house place. 

 If the oil and gas mineral rights are ever severed(sold) or withheld from your Texas land for sale they can never be put back with that particular deed, the original mineral and Texas land owner can buy both again but the are in separate instruments as far as the deeds are concerned. If the owner of your lands mineral rights signs a lease with an oil and gas company, it is the oil and gas company who, in effect, hold the mineral rights.

  A very disturbing fact in Texas land for sale is that the Texas Supreme Court has found that mineral rights are superior to surface rights. What this means for you is that although the oil and gas company may promise to keep the disturbances to a minimal if it is a residential area, if it is necessary to conduct further exploration on your land they have every right to enter your land at will without even giving you notice and donít even have to pay you damages unless you can prove that the damages are malicious.

 What all this boils down to is that at the very least when you are buying Texas land for sale find out if the mineral rights come with the sale even if it cost you extra money for the closing cost. If the mineral rights are not conveying with the land use that to at least get a better purchase price or move on to the next piece of Texas land and try working a deal on that tract.



References


External Links
www.louisianalandsource.com
www.ohiolandsource.com
www.georgialandsource.com
www.mississippilandsource.com
 
 
Category(s)
Real Estate Information Sources - Real Estate Articles
[edit]
Home   |   About Us   |   Contact Us   |   Patrons   |   FAQ's   |   Site Map
© 2008 - All Rights Reserved.
Thank you for visiting Real Estate Wiki - the leading dictionary, directory, encyclopedia and glossary for the real estate and mortgage industries .