Many people assume that holding on to property is one of the most financially savvy things that you can do. After all, the longer that you keep property in your name, the more the market value increases over time, right?
Unfortunately, this is a common and harmful misconception as it may endanger what properties you have. So maybe you’re thinking of selling your mineral rights and if you are, you might be thinking yourself if it’s the right thing to do and if it is then what’s keeping you from trying to sell mineral rights?
There are many aspects about mineral rights that can be confusing if you’re a civilian who is trying to navigate your way through the ever fluctuating professional market involving these mineral rights. Many buyers will try to take advantage of this ignorance in order to purchase your rights that are actually worth more than what they might be offering you. It depends on your understanding of the market and if you are committed into dealing with the repercussions of actually owning mineral rights.
Owning these rights can come with their own complicated taxes, which you may not wish to be accountable for, and if that is the case then it would be recommended that you consult with professionals who are experienced and adept with the industry into making sure that you make the best deal possible with your property. These rights can be rightly used if in the right hands and, if handled with as much knowledge and strategy possible, it could be a win-win scenario for every party involved.
So is selling your mineral rights truly the right thing for you to do? The fact of the matter is that these things don’t operate on a binary of yes and no – there are individual circumstances to consider and it should be handled on a case to case basis.
In the end, the only one who can decide if your selling your mineral rights is the right move is you.