Family! Grrr!

[DianaB]

Originally Posted by Janet

I feel so lucky!!!! I've never known anyone with mineral rights before! lol I'm so out in the woods that to be honest, I never even heard of it.

When you buy property you own everything that's under it......that's your "mineral rights" unless it's been sold or rented out. If so then it will affect the price of the property.......without mineral rights would be cheaper. You would definitely know if you didn't have mineral rights because it would be pointed out before your purchase.

Sorry, I didn't see your post explaining all of this before I posted. You did a nice job explaining.

Actually here most people own their mineral rights. It's just been lately that a lot of people leased their rights and it really fizzled for most. I'm not even sure if we have an oil and gas company left doing anything much. I imagine that things are a lot different in Oklahoma and Texas where there is lots of oil. I'm sure that mineral rights have been sold or leased for years which is why you're receiving checks.