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Personal Finance (Not Investing) • Selling Mineral Rights?

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My mother-in-law inherited the mineral rights to a small property in WV.

I believe it wasn’t drilled/fracked until last year. She received a 1099-MISC from a firm in Baton Rouge, LA, marked ‘rent’ for a check she received in 2023.

At the end of June, she received an unsolicited offer for approximately eight times the 2023 rental check. The offer expired earlier this month, but my wife called the company today and they upped the offer to just under ten times the rent.

My MIL is having cognitive issues and has no record of any lease deal or even when she inherited the property. The rep from the firm that issued the offer claimed to have everything they needed to complete the deal with only a signature from my MIL.

I suspect the offer isn’t very good (especially when they upped it with nothing more than a phone call), but I feel like we have nothing to go on to know the true value of these rights.

This is way out of my wheelhouse. Any advice would be appreciated!

Statistics: Posted by West of Chicago — Mon Jul 15, 2024 7:29 pm — Replies 4 — Views 523



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