Keeping mineral rights

Asked by Ben, Fort Worth, TX Sat Jul 5, 2008

What do I need to do to keep the mineral rights in a residential property that I am selling?

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Angelia’s answer
Angelia, , Grand Prairie, TX
Sat Jul 5, 2008
You must exclude the minerals in your deed and make the buyers aware that you intend to reserve your minerals --- a typical reservation paragraph should at least have the following language: "Grantor herein reserves for himself and his heirs all oil, gas and other minerals that maybe produced from the herein described property." Without this specific reservation appearing on your deed, your minerals will automatically transfer to the buyer.
1 vote
The Jones Te…, Agent, Richardson, TX
Mon Apr 6, 2015
Agree with the other agents on the post.
0 votes
Alexander Ch…, Agent, Fort Worth, TX
Fri Feb 20, 2009
The first thing you need to do if listing the property is exclude the mineral rights in the listing. This should only happen if you know you own them of course which can be done by a search at the court house. Many developers reserved mineral rights when they sold the lots so you should definately check this out. Assuming that you own the mineral rights, the Texas Association of Realtors has an approved form that is very simple and it has a box to check to retain the mineral rights. Both parties have to agree. If there is no addendum or reservation language the rights will transfer if owned by you. With any oil and gas issue it is best to consult an attorney. Realtors are not licensed to advise but that is what happens these days. We at Alexander Chandler Realty can help you get in touch with experts in this field.
0 votes
Bruce Lynn, Agent, Coppell, TX
Sat Jul 5, 2008
Ben, This can be so important now I'd advise speaking to a board certified real estate attorney about it. If you are working with a realtor, most of the larger offices have mineral rights reservation forms prepared by their attorneys as part of their contract packages. You might be able to ask a title company for a clause as well, but they may be hesitant to give out, but doesn't hurt to ask. They may do it to get the deal. If you really value the mineral rights, don't resort to Office Max forms. They may work, but you might pay for it later if they don't. Angelia's answer is a good start, but to me this is nothing you want to fool around with.
Web Reference:  http://www.teamlynn.com
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