You just found out you inherited mineral rights in Texas. Maybe a relative passed away and the estate attorney mentioned mineral interests in the probate inventory. Maybe royalty checks stopped arriving and an operator told you the account is suspended pending new ownership documentation. Or maybe a landman called out of the blue offering to […]
If you own mineral rights in Texas, there’s a good chance you’ve received a letter, a postcard, or a phone call from someone offering to buy them. Maybe more than one. These offers can range from a few thousand dollars to six figures, and they often come out of nowhere, especially if you inherited the […]
If you’ve inherited mineral rights in Texas, the step-up basis is one of the most important tax advantages you need to understand. Under Internal Revenue Code Section 1014, the cost basis of inherited property is automatically adjusted to its fair market value at the time of the owner’s death. That means you don’t owe capital […]
When presented with a mineral deed, most owners focus on the specific properties they know about. However, the greatest risk often lies in what you don’t know you own. Blanket conveyance language in mineral deeds can transfer every mineral interest you own in an entire county – including properties you may be completely unaware of. […]