In this episode we answer listener questions submitted by Joyce, Steve, Bruce, Lydia, Sandra, Gary, and Sandra. In this episode we tackle a variety of listener questions from strategies for minimizing taxes on royalty income, different ways to invest in mineral rights, including using 1031 exchanges, and provide guidance on calculating ownership interests and royalty payments. We also discuss the intricacies of negotiating oil and gas leases and performing a title search to confirm exactly what you own.
Some of the listener questions in this episode are addressed in my Mineral Management Basics online course, from how to read a legal description, how to perform a title search, and how to identify nearby oil and gas activity, and how to determine if you should be getting paid on a well.
Thanks again to everyone who left a review or who submitted a listener question! If you have a question about your minerals or royalties, you can send it to feedback@mineralrightspodcast.com and who knows we might just answer it on the air!
If this has been helpful, please take a moment and leave us an honest rating & review on Apple Podcasts. This feedback really helps keep us going and helps make sure that we are putting out content that is tailored to your needs.
Listener Question #1
(I’m a) Mineral owner, (I was was wondering if there is) any way to avoid the outrageous taxes on royalties?
Joyce
Listener Question #2
Hi Matt- I am a first time buyer of oil and gas mineral rights. After evaluating two different companies/offerings I opted to do a 1031 exchange (of a rental property) and went with Alpine Minerals, LCC on 01-03-2024. It has been real slow, but they are saying I will get royalties back to October of 2023 (initial offering date) by the end of April.
They have been communicative, but since this is all new to me, I appreciate someone like you who puts out a lot of good content! Thanks!
Regards,
Bruce
Listener Question #3
Thank you Matt! I love your conversational approach. I have researched the deeds on our properties but I would like to accurately calculate my ownership interest and then calculate the RI on my wells.
With appreciation,
Lydia
Listener Question #4
The landman that wants to purchase our mineral rights in west Virginia & has done title work . We want to lease not sell . Can we ask the landman (JRS Land company) for the portion of the title work that pertains to my mom. Or should I offer to pay for that title work ? We don’t have the land description or tax parcel no.
Thank you , Sandra
Listener Question #5
Hello Matt,
My wife has been contacted to sign a royalty lease of which she has a very small interest, less than ½ acre of a total of 144 acres split over 3 properties. And it is a new Llc just formed, and at this time has started no drilling activity.
I’m trying to educate myself and possibly get leads on a mineral rights attorney in W. Virginia.
I’m hoping your site can help me educate myself somewhat.
Gary
Listener Question #6
Hello Matt,
I am unsure if I still hold mineral rights on a specific location in Utah (I have the location from the county records office). I signed an oil and gas lease which is now expired. There is no active drilling going on in the area. A one time payment was made into my deceased father’s trust. I do not know where the title is. The county record’s office does not have title information on mineral rights, only on the surface. I do not own the surface. I want to close my father’s small trust but don’t know how that would effect the ownership of the mineral rights going forward. Any answers would be helpful. I do not live near Utah so it is difficult to go into the county archives. I registered on the county website but was unable to find the title online.
I am stumped!
Sandra
Resources Mentioned in this Episode:
Mineral Rights Education
- Mineral Management Basics Online Course
- National Association of Royalty Owners
- 1-on-1 Coaching with Matt
Books
- Never Split the Difference by former FBI Hostage Negotiator Chris Voss is THE book on negotiation.
How to Make Sure You are Getting Paid Correctly
- MRP 3: How to Calculate your Net Revenue Interest in 3 Simple Steps
- Download my the Free NRI Calculation Worksheet HERE
- MRP 97: How to Audit Your Oil and Gas Royalty Statements
- MRP 103: How to Find Out if You Have Unclaimed Royalties
- MRP 166: How to Read and Manage Your Royalty Statements
- MRP 224: What to do About Late Royalty Payments
Investing in Minerals and Royalties?
- MRP 54: Using a 1031 Exchange to Defer Capital Gains Tax
- MRP 66: Dormant Mineral Rights. Do Mineral Rights Expire? (Link to states with dormant mineral statutes)
- MRP 126: Deep Dive on Investing in Mineral Rights, Royalties, and Working Interests
- MRP 128: Investing in Minerals and Royalties with Jarrett Kitch
- MRP 159: Guide to Buying Mineral Rights
- MRP 160: Strategies for Investing in Mineral Rights
Mineral Rights Inheritance
- MRP 116: Justin’s Journey Inheriting Mineral Rights and Royalties
- MRP 120: Listener Stories – Mineral Owner Barb Rankin
Mineral Rights Research
- MRP 10: How to Perform a Title Search
- Download my Free Runsheet Template to help you get started with your mineral rights title search.
- MRP 249: The Power of Networking with Ryan Fairbanks, RPL
How to Negotiate a Lease / Pooling
Thanks for Listening!
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Thanks again – until next time!
