There was a woman who lived in the early 1900's in and around Joshua, Texas. Her name is not important but her actions show an amount of financial acumen that should be duplicated today. Based on the number of warranty deeds that I have reviewed over the years in the early 1900's it was somewhat out of the ordinary for women who were single to transact in land purchases and sales on a regular basis. Yet, this woman purchased and sold land in and around the town of Joshua, Texas.
She would purchase small tracts of land between Alvarado and Godley and apparently in as many cases as she could she would keep all the minerals under a tract of land when she sold the surface estate. Now, fast-forward in time to the early 2000's. Her descendants held the mineral rights under a nine-acre tract as well as others in Johnson County. The mentioned nine acres of minerals were included in a couple horizontal wells and those descendants, many of whom had never met this wise woman, were rewarded by her forethought and knowledge. Both through the receipt of bonus money and royalties from the production. I know because I assisted in locating these heirs and helping them execute leases.
Some have thought this advice ill-advised and after hearing their story there was agreement. The individual owned more than 1000 mineral acres under an area that was rich in minerals and his plan was to use the money for several different businesses. He invested wisely and made a great deal of money. This principal is juxtaposed to the normal idea where people have a small mineral interest and the money from the sale of the interest would may not be used to propagate investments. The key is to provide for those in our family who are to follow.
Another question is: why would someone reserve minerals under a tract or tracts of land where there has never been any oil or gas production and likely never will be? Answer: If you purchase an asset every component of that asset has value. If you give this value up and do not profit from it then you have left money on the table. Many people today will purchase a home in the city and when they sell they do not save and except from the sale (when and if they do sell later) all the mineral estate.
If you list the property for $200,000 and the buyer sends you a counter offer of $180,000 then take away the minerals. Use the tools you have available to get your price. Don't be shy. Get someone to help you get the best deal for your property AND your minerals. Your decision today will make a difference to your descendants. They may have mineral interest because of your good decision.
Cliff Williams
The Law Office of Cliff Williams, PLLC
Serving the State of Texas
http://www.bcwilliamslaw.com/
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