If you own minerals in multiple state, our estate executor may have to open an ancillary probate in each state in order to transfer or sell the mineral rights.
Mineral rights are usually considered when evaluating your financial obligation for long term care.
Your mineral rights may need to be transfered to your spouse and then again to your children. It can be expensive to transfer the minerals.
It is very hard to sell small (and non-producing) mineral rights. It's better to sell while there is still value.
Mineral Owner A decided to sell her minerals because she didn't want to leave her heirs with the burden of opening ancillary probate in another state and incurring the expense of transferring all her minerals, most of which generated very little revenue (and several were non-producing).
Mineral Owner B left her entire estate to her husband and appointed her daughter as her personal representative. She probably had no idea that it would take her daughter years to wrap up probate and that her daughter would need to open ancillary probate in each state where she owned minerals in order to transfer (or sell) the minerals. It was an expensive and time-consuming process and sadly, the minerals were so small that they really didn't have much value.
With the price of oil declining and operators practically giving gas away, I decided to sell before the bottom falls out.J. Cruz
I am on a fixed income, and the sale of these minerals will help me secure stable housing. My children will be okay if even if they don't inherit these minerals.S. Owens
My oil wells have been producing for decades and the reserves are almost depleted. Once the wells are plugged, the value will be significantly lower. I'd rather cash out now.R. Robertson
I inherited mineral rights, but don't want to be involved with fracking and fossil fuels. I would prefer to support renewable energy and do my part to reverse climate change.P. Harris
Although everyone says, "Never sell your minerals", my daughter needs a series of costly life-saving medical treatments. There are exceptions to every rule.L. Grady