When a land owner won't convey minerals in sale

[Fishy]

I've been looking at land to buy. Found a reasonable size and price range property for cattle. Now it is possible that the realtor doesn't have all the exact info when he has spoken to me. The reason I say that is because the ad mentions that the owner believes he owns all minerals. It sounds as though the owner wants to retain them. When I asked the realtor about it, he then said the owner isn't certain if he owns 100%. But will convey 1\2 according to price. Maybe I'm being greedy in wanting 100% included with sale of land at no additional cost. This isn't located near any producing oil or gas wells.

Guess maybe he knows something I dont , which is likely.

What do you guys make of it? I don't have any more exact info at this time.

[Chew]

I would say that it is rare to get the mineral rights in a land purchase these days. But that's just my limited experience from talking to realtors and buying land recently.

[Axis FMJ]

sounds Fishy...

[Rat]

Depends on how good a negotiator your are! As a rule, if minerals aren't included then it is negotiated.

This from my admittedly limited experience in real estate; I'm no expert, but I did stay at a Holiday Inn last night.

[RutnBuk]

Instead of asking for 100%, why not just ask for 51%?

[Neck]

You have a landowner willing to sell some of the mineral rights??? Put me in line!!!

[Cajun Blake]

it's been my understanding that in TX land deals, the owner very rarely sells mineral rights

[millman]

I doubt anyone can buy 100% of the mineral rights on any piece of property this day and time.....for many reasons.

[Bazo]

it's been my understanding that in TX land deals, the owner very rarely sells mineral rights

x2

[mmoses]

Its best to have a lawyer who is familiar with mineral rights look over it.

Most land in Texas for sale does not include mineral rights.

If you can try and get some so you can have a seat at the table if/when its time to drill.

[Rack Ranch]

If he's offering 50% of what he owns, take it and run...

[nativeaustin]

It is pretty common for people not know what % of the minerals they own. Its not that far fetched for the seller to wants to keep 1\2 of whatever minerals they own.

[TildenHunter]

Ask for the 50% of whatever the seller owns along with the Executive Rights. That way your surface is protected from any future exploration/surface development unless you OK it. He will then have what is called a Non Exec Mineral Interest. He will still be paid the appropriate amount of bonus consideration but you have the control to negotiate the lease (and put a no surface clause in a lease etc.)

[TMEC]

Ask for the 50% of whatever the seller owns along with the Executive Rights. That way your surface is protected from any future exploration/surface development unless you OK it. He will then have what is called a Non Exec Mineral Interest. He will still be paid the appropriate amount of bonus consideration but you have the control to negotiate the lease (and put a no surface clause in a lease etc.)

This

[Ironman]

Make a written offer. If it is not stated specifically about minerals, then minerals convey to the buyer. If it is specifically written that the seller wants to retain 50%, then you have ammo to negotiate for a better price. BUT, who knows what % of the minerals the buyer actually owns to begin with.